Tougher UK Remit sanctions to be felt across EU

Two years’ jail for Remit breaches will “focus minds”, say lawyers

Royal Courts of Justice

The broad scope of UK government plans to impose criminal penalties for energy market manipulation – including prison terms of up to two years – mean they could potentially apply to a large proportion of trades across the European Union energy market, say lawyers.

The plans, which were released in a consultation by the Department of Energy & Climate Change (Decc) on August 6, toughen the sanctions imposed by the UK for breaches of the Regulation on Wholesale Energy Market Integrity and Transpare