European energy firms struggle with unclear Remit rules
Remit is ushering in an array of new reporting requirements designed to curb abuse in European energy markets. But firms are struggling to make sense of the requirements. Gillian Carr reports
The long arm of the law has recently been growing even longer for European energy firms. The Regulation on Energy Market Integrity and Transparency (Remit) came into force in the European Union (EU) in December 2011 and aims to stamp out market abuse in wholesale energy markets. Essentially, the regulation constitutes an EU ban on market manipulation and insider trading and gives national regulators the power to levy penalties on firms that break the rules. The enforcement of national regulators
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