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Energy Connections

REMIT trade reporting now likely in September

I reported for ICIS on Wednesday that the European Commission looks set to extend the length of time energy companies will have to start reporting trades after the implementing acts for REMIT are published. It seems the commission has take on board the need for time to build the systems to report trades, and even […]

Criminal sanctions and the markets

A couple of interesting stories floating around today. The FT reports that a senior UK banker has pleaded guilty to charges stemming from the rigging of the Libor interbank rate. The second comes from Sky News, which reports that two directors of HSBC’s UK arm are poised to quit in protest at new Bank of […]

Knowing what is in your REMIT

As mentioned in this blog recently and in this ICIS story today, the implementing acts for REMIT are likely to come in November. It is possible they might come sooner. In the article linked to above, some market participants complain about the six-month timeframe companies will have to digest the implementing acts before they have to […]

Waiting for the final act of REMIT

One of the most important documents for energy companies this year will be the implementing acts for REMIT. Six months after they are published, companies will have to start reporting trades, as well as orders to trade. The European Commission was supposed to publish the acts by Q3, but missed this deadline. At a meeting […]

Britain’s Ofgem to consult on REMIT guidance

British energy regulator Ofgem has said it will consult on changing its procedural guidelines and how it calculates penalties for breaches of REMIT. The consultation is slated for October. This comes around the same time the UK energy minister flagged his intention to introduce criminal penalties for energy market abuse . The criminal sanctions for […]

Energy regulation – what lurks beneath

When a deal was hammered out between EU lawmakers that exempted physical power and gas trades from counting as a derivative, the energy industry breathed a sigh of relief as it looked like it had avoided costly mandated clearing. But as this blog will show, that exemption doesn’t leave energy in the clear from regulations […]

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