REMIT fine in Lithuania

VERT, the National Regulatory Authority in Lithuania, has fined the TSO Litgrid 21,500 EUR for a breach of REMIT Article 5 (market manipulation prohibition) in 2022. The notice can be found here. The breach was triggered by an erroneous sell order, which “was likely to lead to a misleading price signal”. Such erroneous orders can sometimes also be considered Inside Information and would therefore also need to be disclosed under Article 4. More information can be found in the second edition of the Nordpool Best Practice document (see here). There have been several other such fines in the past (for example see here).

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