EU Regulation on Wholesale Energy Market Integrity and Transparency (“REMIT”) is an EU-level framework for identifying and penalizing insider trading and market manipulation in wholesale electricity and gas markets in the European Union. Regulators have investigated and fined a variety of market participants, including energy exchanges, gas and electricity suppliers, and traders. Despite the uptick in enforcement, there remains considerable uncertainty over, for example, the scope of certain provisions of REMIT, and the boundaries between REMIT and competition law. In this article, senior advisor Dr. Leigh Hancher and partners Matthew Levitt and Paul Lugard provide background on the topic, explain the latest developments, and recommend that companies implement comprehensive, tailored compliance programs.
To view the full article, featured in the September 2019 Pratt's Energy Law Report, please click the title link below: