The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) aims to prevent and protect consumers and businesses against market abuse in the European electricity and gas markets. The rules were revised in May 2024 to ensure they keep pace with evolving market dynamics.
In the course of 2024, ACER published two open letters to help stakeholders comply with the new obligations under the revised REMIT.
Today’s open letter aims to further clarify:
- how EU representatives for third-country market participants (e.g. not based in the EU) should be designated;
- the new obligations for persons professionally arranging or executing transactions (PPAETs).
Why is the open letter relevant?
This open letter outlines what is expected from non-EU market participants and PPAETs to ensure compliance with the revised REMIT (Articles 9 and 15) and meet the new obligations.
ACER invites market participants to read this letter alongside previous ones for a complete understanding.
What are the next steps?
By the end of 2024, ACER plans to revise the existing ACER Guidance on the application of REMIT to reflect the changes introduced by the revised REMIT.
For additional questions, ACER encourages market participants and PPAETs to use the REMIT query form.
