R E M I T - WHOLESALE ELECTRICITY MARKET INTEGRITY AND TRANSPARENCY Print


By the Ministerial Council Decision No. D/2018/10/MC-EnC of 29 November 2018, the Energy Community acquis included Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency with required adaptations to the Energy Community legal framework and defining the obligation to implement it by 29 May 2020.
The adapted REMIT Regulation defines common rules for activities on the wholesale electricity and gas markets in the Energy Community Contracting Parties (Albania, Bosnia and Herzegovina, Georgia, Kosovo*, North Macedonia, Moldova, Montenegro, Serbia and Ukraine). This introduces a common European framework on wholesale markets of the European Union and Energy Community for:

  • Definition of marker abuse with regard to market manipulation, attempts to manipulate the market and insider trading,
  • Introduction of the explicit prohibition of market abuse,
  • Establishment of a new framework for the registration of market participants and wholesale market monitoring with the aim of detecting and preventing market manipulation and insider trading, and
  • Definitions of prohibitions and the application of penalties at national level if market abuse is detected.

REMIT is applied to all market participants whose activities affect wholesale energy markets, that is, all natural or legal persons (including transmission system operators and distribution system operators) carrying out or conducting trading transactions on one or several wholesale energy markets.
Pursuant to Article 4.2 point k) of the Law on Transmission of Electric Power, Regulator and System Operator of BIH (Official Gazette of BiH, 7/02, 13/03, 76/09 and 1/11) SERC competences include the creation and maintenance of competitive markets, and prevention and punishment of any predatory or anti-competitive conduct. Starting from the obligations of national regulatory authorities defined by the adapted REMIT Regulation and under the competences defined by the law, in 2019 SERC launched activities on transposition and implementation of the adapted REMIT Regulation in the field of electricity. In this context, the translation of this Regulation in the languages officially used in Bosnia and Herzegovina was prepared and published.

On 12 February 2020, a Decision on transposition of the Regulation on wholesale energy market integrity and transparency was passed (Official Gazette of BIH, 13/20), defining the terms and conditions for transposition and implementation of the part of the adapted REMIT Regulation which is under SERC competence pursuant to the aforementioned Law.

Pursuant to this Decision, on 11 March 2020, SERC defined Draft rules on wholesale electricity market integrity and transparency.

SERC had consultations with the relevant institutions in Bosnia and Herzegovina and the Energy Community Secretariat, and collected comments and opinions of the expert community and wider public on the prepared text within a general public hearing. This hearing was held on 7 May 2020.

Rules on wholesale electricity market integrity and transparency were adopted on 14 May 2020.

At the session held on September 3, 2020, SERC adopted the Decision on the Register of Participants in the Wholesale Electricity Market with the corresponding forms.

This decision contains the following forms in its attachment:
  • Form REMIT R-1: Registration request for participants in the wholesale electricity market in Bosnia and Herzegovina
  • Form REMIT R-2: Data for the Register of participant in the wholesale electricity market in Bosnia and Herzegovina
  • Form REMIT P-1: Reporting any potential abuse or manipulation in the wholesale electricity market in Bosnia and Herzegovina
  • Form REMIT P-2: Reporting delayed publication of inside information
  • Form REMIT P-3: Reporting the use of exemptions related to insider trading and publication of inside information


 
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