A market participant based in Switzerland has been fined a total 25,000 Euros by ARERA (Italian NRA) for a breach of REMIT Article 9, the requirement for market participants to register in the “CEREMP” database, and breaches of Article 8, the reporting requirement. The firm failed to register before starting to trade in Wholesale Energy Products and also to put reporting arrangements in place. The notice can be found here.

Market Participants are required to be registered in the CEREMP database, whether based inside or outside of the EU. REMIT II (see here) will see a requirement that all non-EU Market Participants have a “representative” in the EU.