REMIT Forum 2021. Plenary session “10 years of REMIT – what is next?”
What is it about?
The session included a broad range of content, from keynotes to panel discussions, and was not dedicated to a specific REMIT mandate. The purpose was to celebrate 10 years of REMIT by looking back, what was achieved, where are the issues and looking forward - what should be done to improve the regulatory regime. The panel addressed these three questions:
What are the key challenges in REMIT in the next 2-3 years?
How can this challenges be best addressed?
Who should act on these challenges and how?
Access the sessions' presentation.
Access the REMIT Forum 2021 Conclusions.
All about the Forum
25th of October 2021 marked the 10th anniversary of the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT), which came into force in 2011 to support open and fair competition in the European wholesale energy markets.
The massive decarbonisation of the European energy system will increasingly rely on more integrated energy markets. Otherwise, the cost of the transition is likely to be much higher, endangering social acceptance. One aspect often overlooked of such further reliance on integrated energy markets is the ability to have trust in these markets, ensuring they are free of manipulation and other damaging trading behaviour. This is the contribution of REMIT, the most advanced energy market monitoring effort on the planet. As such, making sure REMIT evolves alongside energy system change in Europe is the ‘political corollary’ of relying on the further integration of energy markets across Member States to secure the objectives set at the highest levels of government.
What was the REMIT Forum 2021 about?
In the past 10 years of REMIT, ACER have successfully implemented practically all the pieces of the regulation. However, as the REMIT landscape continues to develop, there may eventually be a call for revision and changes. With a series of events in October 2021, ACER aimed to reflect back and to provide a high-level forum to discuss the future.
What format did the REMIT Forum 2021 take?
The 5th REMIT Forum was organised as a series of virtual events: on 25 October an introductory webinar to REMIT was followed by the main plenary session, which fostered a high level political discussion among key stakeholders. On 26 and 28 October, the Forum provided special interest groups sessions on data, reporting and technology as well as on the ACER Guidance.