The next steps in the legislative procedure are the REMIT regulation being forwarded to EU member state representatives at the Council of Ministers for approval (first reading).

 

Editorial note: European Commission’s Proposal for a Regulation of the European Parliament and of the Council on energy market integrity and transparency {SEC(2010) 1510} {SEC(2010) 1511} was already the subject of following posts:

 

1) Draft REMIT Regulation does not cover EUAs – but for how long?

 

2) Objective responsibility of insiders extends to the primary market in emission allowances and to the commodities physical market in electricity and gas;

 

3) The definition of ‘inside information’ under REMIT – dubious without the EC and market input (I);

 

4) The definition of ‘inside information’ under REMIT – dubious without the EC and market input (II);

 

5) Europe-wide passport for wholesale trading in electricity and gas – still fragmentary perception of the production chain