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ARTICLE · 07 JULY 2015

REMIT: The Road To Enforcement

Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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Following a number of recent developments, described below, the rules and regulations enacted under the European Union Regulation on Wholesale Energy Markets Integrity and Transparency are now close to being fully-implemented.

European UnionEnergy and Natural Resources
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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Following a number of recent developments, described below, the rules and regulations enacted under the European Union (EU) Regulation on Wholesale Energy Markets Integrity and Transparency (REMIT) are now close to being fully-implemented. Market participants must ensure they are now prepared for an increasing number of investigations and enforcement actions.

1. REMIT implementation: the current framework

REMIT is an EU regulation intended to address perceived market integrity issues in the wholesale electricity and gas markets.1 As a regulation, REMIT is immediately and directly applicable as law in all 28 EU member states. The majority of REMIT's provisions, including the prohibitions on insider dealing and market manipulation and the obligation to disclose inside information, have been in force since 28 December 2011. However, the three and a half years since REMIT was enacted has been dominated by matters relating to drafting and implementing the various

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