ACER and European Commission workshop: REMIT II implementation

ACER and the European Commission Directorate General for Energy (DG-ENER) are organising an online workshop to discuss the implementation of REMIT II and its main implications.

Throughout 2021 and 2022, energy prices in Europe soared due to reduced gas supplies, Russia’s invasion of Ukraine and a spike in demand from the post-COVID-19 global economic recovery.

To ensure the REMIT Regulation keeps pace with evolving market dynamics, the European Commission launched a legislative proposal in March 2023 for its amendment. A year later, in March 2024, the European Parliament and the Council adopted the new REMIT II.

What enhancements will REMIT II bring?

The REMIT II introduces a closer alignment to EU rules on the transparency of financial markets. It covers new trading practices, such as algorithmic trading, and strengthens provisions on reporting and monitoring to protect consumers from market abuses.

The new regulation also reinforces the supervisory role of ACER, allowing it to oversee inspections, requests for information and authorisations of Inside Information Platforms (IIPs) and Registered Reporting Mechanisms (RRMs). ACER is also empowered to impose periodic penalty payments in order to ensure compliance with on-site inspection decisions and requests for information.

Workshop objective

This joint workshop aims to:

• present the implementation steps related to REMIT II;
• provide stakeholders with insights into the upcoming changes;
• address questions and concerns raised throughout the drafting phase of the new regulation;
• encourage stakeholders’ active involvement in both the implementation of REMIT II and in the creation of ACER guidance documents.

This event replaces the traditional annual ACER REMIT Forum.

What are the next steps?

ACER and the European Commission will use the insights from the workshop to inform the creation of key guidance documents on the revised REMIT Regulation.

Pre-reading material

Learn more about the revised REMIT Regulation:

• Proposal by the European Commission (14 March 2023)
• Proposal by the European Parliament and the Council (13 December 2023)
• Revised REMIT Regulation by the European Parliament and the Council (6 March 2024)

Have any questions?

Contact us at workshop24@acer.europa.eu.