An introduction to REMIT
Produced in partnership with Addleshaw Goddard
An introduction to REMIT

The following Financial Services guidance note Produced in partnership with Addleshaw Goddard provides comprehensive and up to date legal information covering:

  • An introduction to REMIT
  • What is REMIT?
  • Who does it impact?
  • Statutory basis and implementation
  • REMIT and Brexit

Brexit impact

This Practice Note contains information on subjects impacted by the UK’s withdrawal from the EU at 11 pm on 31 January 2020 (exit day). As of exit day, the UK is no longer an EU Member State, but it has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. For further reading, see Practice note: Brexit—introduction to the Withdrawal Agreement.

For information on how leaving the EU will affect the EU Internal Energy Market and/or Great Britain’s (GB’) international electricity and gas interconnectors and trade, see Practice Note: Energy and Brexit—the EU Internal Energy Market and international electricity and gas interconnection regulation and trade, which details the key publications and announcements made to date which are specific to Brexit and the EU Internal Energy Market and/or Brexit and Great Britain’s international electricity and gas interconnectors and trade. It also provides a brief analysis of the consequences of these publications and announcements, and the position to date. 

What is REMIT?

REMIT is the regulation on wholesale energy market integrity and transparency (Regulation (EU) No 1227/2011). It prohibits insider dealing and market manipulation in relation to wholesale energy products.

Aims

REMIT was created with the primary aim of restoring customer confidence that wholesale energy products are priced fairly.

Recital (1) of