EU energy firms brace for Remit reporting woes
‘Teething problems’ expected as new trade reporting regime kicks off
Both energy companies and regulators expect a bumpy ride as a new mandatory trade reporting regime begins today (October 7) under the European Regulation on Wholesale Energy Market Integrity and Transparency (Remit). Fortunately for market participants, regulators in countries such as the UK and Germany appear inclined to take a lenient approach to enforcement of Remit's reporting mandate in the early days, given the difficulties of getting the new regime up and running.
Under Remit, firms must
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