Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
19 February 2016
Client Alert | France | Energy
Although regulation no. 1227/2011 of 25 October 2011 on wholesale energy market integrity and transparency (“REMIT”) entered into force on 28 December 2011, it had not had any immediate consequences on the energy sector’s operators. The provisions of the European text only truly began to be applied at the end of 2015.
The regulation was adopted to monitor the wholesale energy markets and support the banning of abusive practices that impact them. Directly applicable in the EU’s Member States, REMIT thus prohibits market abuse resulting from insider information or market manipulation. It also forces those operators who are active on the gas and electricity wholesale markets to register and publish data on the operations they conduct.
REMIT is implemented by the Commission Implementing Regulation no. 1348/2014 of 17 December 2014, which focuses specifically on operators’ data reporting, a significant part of the mechanism.
In France, the “Brottes” law no. 2013-312 of 15 April 2013 gave power to the French Energy Regulatory Commission (Commission de régulation de l’énergie, “CRE”) to implement REMIT nationally, and to punish any infringing behaviour.
Please click on the file below to read the full Client Alert.
