It was announced on Friday by the CRE (Commission de régulation de l’énergie, the French National Regulatory Authority) that BP Gas Marketing Ltd has been fined 1 million Euros for breaking the REMIT market manipulation  rules via activity on the Peg Sud gas market in France.  The press release can be found here.

The activity took place in 2013 and 2014 and is similar to that covered by the 5 million Euro fine levied in September 2018 on Vitol S.A.(see here). Last week, a fine under REMIT was announced in Lithuania (see here) , making this the second fine announced this year.

The trend of increased anti-abuse activity that was expected for the year (see here) is therefore already seemingly coming to pass. Cases such as this one will likely be discussed at the 3rd open anti-abuse meeting due to be held in March (see here).