REMIT, the EU Regulation on Wholesale Energy Market Integrity and Transparency (Regulation No. 1227/2011), first brought into effect in 2011 (followed by the REMIT Implementing Regulation in 2014 (Reg. No. 1348/2014)), establishes common EU-wide rules, that aim to prevent abusive practices in wholesale energy markets and enhance market transparency. Overseen by ACER, the regulation defines prohibited abusive practices with respect to market manipulation and insider trading, applies a monitoring system for the European energy markets, and gives national regulatory authorities (NRAs) powers to enforce rules, investigate and sanction misconducts. REMIT is now a mature system of regulation but the interpretation and application of its provisions, are challenging, complex and often contentious.

Ahead of the training, reading and supporting materials will be made available through a dedicated online portal alongside focused discussion groups, in preparation for the course. The course is designed to encourage the active participation of participants throughout the course and a close interaction with the experts on hand to ensure a fuller learning experience. Participants will also be invited to post questions ahead of the training, so that their particular concerns are fully addressed.

• The training will closely examine the provisions of REMIT from a legal standpoint and how key definitions such as ‘wholesale energy products’ and ‘market participant’ are evolving
• Analyse ACER’s current approach to market monitoring and maintaining the integrity and transparency of the market
• Learn how REMIT translates into practice – how to implement anti-abuse programmes, report under REMIT, and how to define and disclose inside information
• Explore the limits of REMIT and the terms of market manipulation in the light of recent case law
• Consider the interface of REMIT with competition law – is REMIT fit for purpose?
• Look at the implications of REMIT – engage with real-life cases, evaluate the dos and don’ts that were applied, and review ongoing controversies

Participants will:

• Develop a comprehensive up-to-date understanding of REMIT
• Learn how the provisions of REMIT translate into practice – the rules and principles, actors, and procedures involved – and how you should apply them to your field
• Gain insight into the current issues of contention surrounding REMIT
• Gain a real-world understanding of REMIT’s application through case-based analysis
• Exchange knowledge and experiences with fellow participants, through a peer teaching – peer learning dynamic, and closely interact with experts in the field

This course does not require a legal background and is open to all. However, it is particularly aimed at energy and financial market practitioners and new entrants to these markets, lawyers, economists and consultants, members of NRAs, TSOs, European institutions, and academics.

• Martin Godfried │ ACER
• Aviv Handler │ Energy Trading Regulation Advisory
• Guillaume Dezobry │ FIDAL; Sciences Po; Université Paris Dauphine
• Francesco Maria Salerno │ GOP
• Francesco Avesani │ Edison
• Carsten Smidt | Forsyningstilsynet
• Dmitri Perekhodtsev │ Compass Lexecon

In addition to the on-site one-day training, in the period leading up to the course, participants will be given access to an online portal, which will contain introductory reading and supporting materials as well as follow-up resources intended for a deeper insight into the topic. Participants have to engage with an online group discussion forum. These tasks and preparatory materials are expected to take a minimum of 10-12 hours in advance of the course, depending on the level of the participant.

• General fee: 600 €
• FSR Energy & Law Donors: 450 €

Paid registration fee is non-refundable. However, registrant substitution may be made up to 21 days before the start date of the course.

At the end of the course, the participants can earn a Certificate of Completion or a Certificate of Excellence, depending of their performance and engagement throughout the course.