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On 25 June 2022, the Dispute Settlement and Sanctions Committee (CoRDiS) of the French energy regulatory authority (CRE) published a sanction decision adopted on May 19, 2022 imposing a fine of €80,000 on Engie SA (Engie), for breaching the prohibition of insider trading under Article 3 of REMIT, the EU Regulation on Wholesale Energy Market Integrity and Transparency.
In the context of unavailability of two of Engie’s gas fired power plants, CoRDiS found that on 23 January 2017:
- a member of Engie’s Dispatch team communicated to a member of the Trading Team inside information on the extension of unavailability of the Combigolfe power plant, before disclosure of the inside information to the market;
- the Trading team used the inside information to enter into five transactions on two hourly products on EPEX SPOT’s French intraday market.
ACER welcomes this second decision against insider trading under REMIT.
