A new issue of ‘APE – Appunti di Energia’ [energy notes] by RSE was released. This month Imma Serra, a researcher in the Energy Systems Development Department, Energy Markets Regulation Group, focuses on the European Regulation on Wholesale Energy Market Integrity and Transparency (REMIT).  

REMIT is the EU regulatory framework aimed at preventing and countering abusive behavior in the wholesale electricity and gas markets, with the objective of fostering price formation that reflects fair competition among market participants and enhancing the confidence end consumers place in the Internal Energy Market. 

To this end, the Regulation places obligations and prohibitions on the various players in wholesale energy markets, such as the obligation to register traders and the obligation to publish inside information, as well as the prohibition of insider trading and market manipulation. In addition, achieving the goals of transparency and integrity entails the need to establish a rigorous market monitoring system. Individual Regulatory Authorities are therefore entrusted with the task of surveillance of national markets, while ACER is given the task of central monitoring in Europe. 

Over the past year, REMIT has gone through a revision aimed at adapting the Regulation to the changed context of energy markets, which are characterized by new trading mechanisms and, as a result, an increased need for transparency. The revision process was concluded in April 2024 with the issue of EU Regulation No. 2024/1106. This new version of REMIT officially entered into force on May 7, 2024. 
 
 
 
Would you like to learn more? In this month’s APE you will find all the answers to the questions in the picture.