The REGIS TR UK EMIR Trade Repository has received a full licence, as announced here. The TR has been available for use since the end of the Brexit transitional period, after which the UK has run a parallel version of EMIR with separate Trade Repositories. This week ESMA announced a fine for some infringements under the EU version of EMIR (see here).

Ofgem, the National Regulatory Authority for Great Britain, has announced its decision and final new version of their REMIT Procedural Guidelines and REMIT Penalties Statement . The decision can be found here and follows a consultation on the changes run last year. The statements specify how Ofgem fine for infringements of REMIT and related matters. The changes include a shortening of the “settlement window” during which those fined can settle and receive a discount.

Nordpool has published their latest “Market Surveillance” newsletter, which can be found here. It includes a discussion on wash trades in terms of REMIT Article 5.

This article on the Montel site reports poor progress on the implementation of multi-region loose volume coupling (MRLVC) to replace the coupling that existed over inter connectors before Brexit. The article states that disagreements on how Single Day Ahead Coupling (SDAC) should work are endangering the conclusion of a scheme. A copy of the consultation run last year by the UK Department for Business, Energy and Industrial Strategy (BEIS) can be found here.