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MAR, REMIT

REMIT investigations, papers and penalty analysis

Last week Montel published this article which reported that the Bundesnetzagentur(German National Regulatory Authority) has opened  an investigation into potential REMIT infringements by 11 firms, relating to activity in June 2019. This follows warnings given recently to 2 firms for improper activity in the German balancing market (see here).

Nordpool has published their latest market surveillance newsletter (here) which refers to the recent updated publication of the  “REMIT best practice” document issued by Nordpool and a group of Nordic market participants (see here). The newsletter discusses best practice when utilising algorithmic trading in energy markets. The updated best practice document also has a new chapter on the topic.

The newsletter also examines the fine levied last year by the Hungarian Energy Regulatory Authority (HERA) on MAVIR, the Hungarian TSO, for a breach of REMIT (see here). The newsletter examines the reasoning behind the fine, which was levied for the unintentional submission of incorrect values,  and supports the conclusion of HERA.

 

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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