European regulators get to grips with Remit monitoring
By mid-2014, the Regulation on Wholesale Energy Market Integrity and Transparency is expected to see European energy market participants reporting masses of information about their trading activity to regulators. How do regulators intend to use this data to catch market abuse? Mark Pengelly investigates
The Regulation on Wholesale Energy Market Integrity and Transparency (Remit) is a slow-moving train, but one that carries plenty of weight. The law first entered into force in the European Union (EU) in December 2011, but is being implemented according to a staggered schedule, meaning that some parts of it arrived more quickly than others.
From the outset, Remit introduced a ban on trading using inside information and the manipulation, or attempted manipulation, of wholesale electricity and gas
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