About REMIT

ACER and national regulatory authorities (NRAs) work closely together to protect energy markets from abuse. 
Increased transparency and monitoring build confidence that energy markets work well for EU businesses and citizens and that prices are determined in a fair way.

The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) is the EU framework that protects wholesale energy markets from abuse, ensuring open and fair competition.

REMIT prohibits two main forms of market abuse:

• insider trading (using undisclosed information to gain unfair advantage); and
• market manipulation (distorting market integrity or creating false or misleading signals).

It sets rules to detect and prevent market abuse and establishes a system to monitor trading activities across the EU.

Since its adoption in 2011, EU legislators have updated REMIT to make it fit for purpose in a rapidly evolving energy landscape, where trading has become increasingly complex (e.g. through the use of algorithms). The Regulation was revised in 2024 to make wholesale energy markets more transparent and better monitored to deter abuse. This included: 

• Broadening the Regulation’s scope (now covering energy storage, hydrogen, electricity balancing and financial instruments).
• Better aligning EU rules on transparency and integrity of energy markets with the EU’s financial market rules.
• Granting ACER investigatory powers in cross-border cases (involving two or more Member States). This mandate complements national regulators’ investigatory authority, with ACER and NRAs working closely together. See ACER’s Rules of Procedure on how such cross-border investigations are conducted. REMIT enforcement continues to be at national level.

REMIT’s main purpose is to ensure trust among consumers, investors and market players in the EU energy market.

How?

• Prohibiting abusive practices: REMIT bans insider trading (i.e. using confidential information to trade) and market manipulation (artificially manipulating prices).
• Ensuring transparency: Companies are required to publish "inside information" (such as planned power outages for maintenance or capacity changes), so that all players have access to the same data at the same time. This helps energy market transparency and integrity.
• Mandating data reporting: Market participants must report trading data, allowing national regulators and ACER to actively monitor and detect suspicious or fraudulent activities. 

ACER and national regulatory authorities (NRAs) work closely together to protect energy markets from abuse.

Many other parties cooperate and contribute to the transparency and integrity of wholesale energy markets under REMIT. These include market participants (e.g. traders, suppliers, producers), ‘Organised Market Places’ (OMPs, e.g. exchanges, brokers) and persons professionally arranging transactions (PPATs, e.g. exchanges).

Anyone (including citizens) can notify a potential REMIT breach or suspicious behaviour through ACER’s REMIT Notification Platform. 

1. What do energy ‘market participants’ and ‘Organised Market Places’ need to do?
   • Market participants: All entities wishing to participate in wholesale energy markets (e.g. energy traders, transmission system operators (TSOs)) must register with their national energy regulator.
   • Organised Market Places (e.g. brokers and exchanges) must notify ACER to be included on a dedicated list (see the list of Organised Market Places). Third-country participants (outside the EU, e.g. UK or USA) active on EU energy markets must designate an EU representative.
2. Reporting and disclosure: Once registered, market participants must:
   • report wholesale energy transactions through authorised ‘Registered Reporting Mechanisms' (RRMs); and
   • publish ‘inside information’ promptly through authorised ‘Inside Information Platforms' (IIPs).
3. ACER authorises and supervises ‘Inside Information Platforms’ and ‘Registered Reporting Mechanisms’, ensuring that transaction data and inside information are submitted accurately and consistently across the EU.
   • Inside Information Platforms (IIPs) are internet-based platforms where market participants can publish inside information. With the revised REMIT, it becomes mandatory to use IIPs for the disclosure of inside information. 
   • Registered Reporting Mechanisms (RRMs) are entities that have the authority to submit data and transaction information to ACER. There are over 100 RRMs (see the list of approved RRMs). Authorisation is only available to RRMs that were founded within the European Union.
4. Regulatory oversight and enforcement:
   • ACER collects and analyses EU-wide energy market data to identify potential REMIT breaches.
   • REMIT enforcement is at national level. NRAs monitor and investigate potential breaches in their jurisdictions and apply sanctions where needed.
   • ACER cooperates closely with national regulators and investigates cross-border cases.

ACER’s main activities under REMIT include:

• ​​​Collecting and analysing market data. 
• ​​​Monitoring wholesale energy markets to detect and deter market manipulation and abuse.
• ​​​Notifying manipulative behaviours to national regulators.
• Investigating cross-border market abuse cases.
• Supporting energy market transparency through tools like the REMIT Data Reference Centre, Inside Information Access Point, LNG price assessments.
• Promoting fair price formation, ensuring that wholesale electricity and gas prices are fair and competitive and reflect genuine supply-demand dynamics
•  Providing guidance and clarifications to help market participants and other relevant parties comply consistently with their REMIT obligations, including: 
• Open letters, e.g. on reporting obligations after the 2024 revision of REMIT, on new obligations after the 2026 adoption of REMIT secondary legislation (respectively on the revised Implementing Regulation and new Delegated Regulation).
• REMIT Guidance and other resources (including Q&As).