European Commission emphasizes importance of integrity and transparency in wholesale energy market

Consumers and other participants in the energy market must trust that electricity and natural gas markets operate with integrity, ensuring fair and competitive prices without the influence of market abuse. In response to the changing landscape of energy markets and the current energy crisis, the Wholesale Energy Market Integrity and Transparency Regulation (EU/1227/2011) underwent modifications in May 2024 through Regulation (EU) 2024/1106 and Regulation (EU) 2024/1789.

The revised regulation implemented a sector-specific framework aimed at monitoring wholesale energy markets to detect and prevent market abuse effectively. Market participants are required to report transaction records to the EU Agency for the Cooperation of Energy Regulators (ACER) through registered reporting mechanisms (RRMs). Additionally, market participants must disclose inside information and submit reports via inside information platforms (IIPs) to ACER. This framework seeks to enhance transparency and monitoring in energy markets and align definitions and regulations with financial market legislation.

The 2024 amendments to the REMIT framework were designed to expand the coverage of products and participants while equipping both ACER and national regulators with increased powers to supervise and investigate potential misconduct. These enhancements aim to safeguard market integrity, maintain price stability, and protect consumers. The revised regulation also mandates that all REMIT-related data must be reported to ACER through IIPs and RRMs.

During a feedback collection period between August 18 and September 17, 2025, the European Commission gathered input on draft rules developed under the revised REMIT regulation. These rules proposed changes related to IIPs, RRMs, and the amending of existing Implementing Regulation (EU) 1348/2014 on data reporting. Furthermore, the ACER Regulation was amended to extend the fee-paying requirements to IIPs and broaden the scope of costs eligible for payment from fee revenues.

To finance ACER’s REMIT activities, the collection of REMIT fees began in 2021 following the Commission’s 2020 Fees Decision (2020/2152). The 2025 Fees Decision (EU/2025/1771) updated and adjusted the fee structure based on the revised REMIT, inflation, market changes, such as the rise in high-frequency trading, and nearly five years of implementation experience.

It is crucial for the energy market to operate with integrity to ensure fair competition and protect consumers. The enhanced REMIT framework, along with the amended regulations and fee requirements, strengthens market oversight, transparency, and enforcement mechanisms. These measures are essential for maintaining the integrity of energy markets and safeguarding against market abuse.