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Home Energy & Climate REMIT Regulation

Article 6

Technical updating of definitions of inside information and market manipulation

1.   The Commission shall be empowered to adopt delegated acts in accordance with Article 20 in order to:

(a)

align the definitions set out in points (1), (2), (3) and (5) of Article 2 for the purpose of ensuring coherence with other relevant Union legislation in the fields of financial services and energy; and

(b)

update those definitions for the sole purpose of taking into account future developments on wholesale energy markets.

2.   The delegated acts referred to in paragraph 1 shall take into account at least:

(a)

the specific functioning of wholesale energy markets, including the specificities of electricity and gas markets, and the interaction between commodity markets and derivative markets;

(b)

the potential for manipulation across borders, between electricity and gas markets and across commodity markets and derivative markets;

(c)

the potential impact on wholesale energy market prices of actual or planned production, consumption, use of transmission, or use of storage capacity; and

(d)

network codes and framework guidelines adopted in accordance with Regulations (EC) No 714/2009 and (EC) No 715/2009.

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