REMIT Compliance for Wholesale Energy Markets

REMIT  Compliance for Wholesale Energy Markets virtual conference explores challenges brought by REMIT and its consequences on wholesale energy markets, current and future issues in REMIT adoption and compliance, key aspects of REMIT after BREXIT, the best practices of REMIT compliance in the sense of compliance regime development, market abuse avoiding mechanisms, inside information management, and algorithmic trading solutions.

REMIT sets a strong regulatory framework to establish a trustworthy, safe, and well-functioning environment for wholesale energy markets. To ensure REMIT requirements are fulfilled by market participants, National regulatory authorities in cooperation with the Agency for Cooperation of Energy Regulators (ACER) may exercise their powers of investigation, enforcement, and penalization in the case of breaches of REMIT. However, neither REMIT nor ACER or any other regulatory authority provides any set of requirements or an action plan on how to comply with REMIT obligations. Therefore, assuring compliance with REMIT regulations is quite challenging for market participants.

In the given scenario, we believe, benchmarking and experience sharing among market participants will most likely help to develop and/or improve already designed compliance regimes.

  • REMIT After 10 Years: Major Updates & New Perspectives for Wholesale Market Participants
  • BREXIT Effects on REMIT & EU Regulatory Compliance
  • How to Develop & Implement Clear Compliance Regime to Fulfill REMIT requirements?
  • Strong Compliance Culture & How it Can Help with REMIT compliance
  • REMIT Compliance: Establishing Clear Policies & Procedures
  • Knowledge Sharing, Training of Employees & Adequate Documentation of Implemented Measures
  • Inside Information Management: Best Practices for REMIT Compliance
  • Addressing Market Abuse Related Challenges and Preventive Measures for Market Manipulation
  • Organizational Requirements for Algorithmic Trading Solutions

Our expert panel at REMIT Compliance for Wholesale Energy Markets:

EUROPEAN UNION AGENCY FOR THE COOPERATION OF ENERGY REGULATORS  (ACER) was established in 2011. ACER is an independent body to foster the integration and completion of the European Internal Energy Market for electricity and natural gas. Agency promotes a more competitive, integrated market, offering consumers more choice; an efficient energy infrastructure and networks, enabling energy to move freely across borders, the integration of renewable sources, and therefore ensuring a higher degree of security of supply; a monitored and transparent energy market guaranteeing consumers fair prices and a limitation of market abusive behaviours.

EPEX SPOT is a European power exchange with over 300 members that trade electricity. The company operates the power spot markets for short-term trading in 13 European countries. In 2020, 615 TWh have been traded on EPEX SPOT, equivalent to one-third of yearly electricity consumption in Europe.     

NORD POOL is a leading power market in Europe, with about 360 companies from 20 countries trading there. The company provides efficient, simple, and secure day-ahead and intraday power trading. Also, it provides consulting services to help its customers simplify tasks related to trading. The total volume of power traded through Nord Pool in 2021 stood at 963TWh. 

ENDESA is the largest electricity company and the second-largest gas operator in Spain. Since 2009, it has belonged to Enel Group, a leading integrated operator in the global electricity and gas markets. Endesa carries out activities of generation, distribution, and sales of electric power in Europe, primarily in Spain and Portugal. Also, it operates in the natural gas sector and provides energy-related services. The company has more than 10 million customers and has generated more than 50,000 GWh of electricity in 2020.    

EDISON SPA is an Italian company operating in the energy sector across Europe, Africa, and the Middle East. Since 2012, it has been owned by French energy company EDF. The company is engaged in the generation and sales of electric energy and exploration, production, and distribution of natural gas. Edison owns 229 power plants and in 2019 it generated 20.6TWh of electric energy, accounting for 8% of Italian national electricity production.     

ENEL is an Italian multinational company. It manufactures and distributes electricity and gas. The company operates in 31 countries and is the 73rd largest in the world. In 2021, Enel generated 232 TWh of electricity, distributed 510.3 TWh, and sold 309.4 TWh.

AXPO GROUP is the largest producer of energy from renewable resources in Switzerland. Also, it is an international leader in energy trading of solar and wind power. Axpo Group operates more than 100 power plants in over 30 countries across Europe, the US and Asia. In Europe, the company has a portfolio of around 100 TWh of energy.    

STATKRAFT is a Norwegian energy company and the largest producer of renewable energy in Europe. Also, it is a global company in energy market operations. It is present in the Nordic region, Southeast Europe, South America, and Asia. A major part of the energy generated by Statkraft comes from more than 300 hydropower plants. In 2018, the total annual power production reached 62.6 TWh.   

Ekaterina Moiseeva Nord Pool
Manager Market Surveillance, Nord Pool, Norway
Policy Officer, ACER (Market Surveillance and Conduct Department), Slovenia
Senior Market Surveillance Analyst, EPEX SPOT, France
Juan Lopez-Terradas, Endesa
Trading Compliance Iberia, Endesa, Spain
Massimo Meney, Edison
Compliance Specialist, Edison Spa, Italy
Giulio Riccardo Cannaò enel trading
Trade Compliance Analyst, Enel Global Trading, Italy
Senior Compliance Officer, Axpo Deutschland GmBH, Germany
Marek Dal-Canton, Statkraft 2
Senior Compliance Officer, Statkraft, Germany
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