The Regulation is aimed at guaranteeing integrity and transparency in wholesale energy markets. In particular, REMIT’s purpose is to prevent market abuse in wholesale electricity and gas markets, which also affects retail prices to consumers and enterprises.
REMIT establishes two prohibitions and two obligations on market participants. Prohibitions concern (1) the use of inside information for one’s own advantage and (2) market manipulation. Obligations refer (1) to the activity of reporting details of transactions concluded on energy markets to the relevant Authority (ACER – Agency for the Cooperation of Energy Regulators) and (2) to the publication of inside information – on market participants’ websites or through authorised service providers – concerning the physical status and efficiency of the facilities for production, consumption, transmission and storage of electricity or natural gas. In particular, equal access to information is necessary to enable all market participants to assess the overall demand and supply situation and identify the reasons for fluctuations in the wholesale price.
For the purpose of fulfilling the obligation to disclose inside information (art.4 – REMIT), Intesa Sanpaolo will communicate it in this section.
