CNMC reminds us that even an attempt to manipulate is a breach of REMIT. We compare the case with recent fines and look at ACER guidance on market manipulation.
Regulation (EU) No 1227/2011
Notable changes include: new obligations for third-country market participants; order book reporting by organised marketplaces; and expansion of REMIT’s scope.
Energi Danmark A/S has agreed to pay a fine of DKr 380,000 for violating a ban on market manipulation under REMIT.
Enforcement
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Gesternova S.A. fined €6m and Axpo Iberia fined €1.5m for electricity market manipulation
The Spanish energy regulator found that the companies had manipulated the market by giving false or misleading statements aka "quote stuffing".
The Spanish energy regulator found that the company had artificially set the price of gas in trading sessions.
Covering algorithmic trading notifications; the Energy Trading Annual Industry report; the latest ACER Quarterly Review; and recent REMIT fine.
Assessing amendments to the regulation on wholesale market integrity and transparency.
New law aims to protect against market manipulation and reinforce market surveillance.