We have been offline for a few weeks but this blog is now back up and running: This post catches up on some key items around REMIT. Further catch ups on other topics will be issued over the coming days.

While the industry awaits the final version of REMIT II (see here) there have been other developments:

• A fine was issued in Norway against a smelter for submitting improper bids in the mFRR market (see here).
• In France a fine was levied for the late disclosure of UMMs on several occasions (See here).
• Also in France, a case against a market participant did not result in a breach finding. This relates to activity in the balancing market and the question of whether the market participant sent a misleading price signal (see here).
• A trial has started in relation to the activity around one of the first ever REMIT fines in 2015. See here for a Bloomberg article on the trial and here for the original penalty.
• A market participant in the Netherlands has had to pay back profit relating to incorrectly entered orders in a market. ACM, the NRA in question, has also issued guidance around the entry of incorrect orders. The spreading practice is that such orders can be Inside Information, in which case a UMM should be issued (see here).
• A new REMIT Quarterly newsletter was published and can be found here. It summarises much news from the previous period and also provides the agenda for the upcoming online REMIT Forum on 5th December (see here).

Customers of ETR Advisory’s Regulatory Support Service receive full customised updates and reports as part of the service(see here).