European energy firms struggle with unclear Remit rules

Uncertain remit

Uncertain Remit

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 regulat