ACER Guidance

1 ACER Guidance on the application of Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency 6th Edition 22 July 2021 ACER Guidance ON THE APPLICATION OF REMIT Page 2 of 119 ACER Guidance on the application of Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency 6th Edition 22 July 2021 Find us at: ACER E Trg republike 3 1000 Ljubljana Slovenia European Union Agency for the Cooperation of Energy Regulators Reproduction is authorised provided the source is acknowledged.

2 ACER Guidance ON THE APPLICATION OF REMIT Page 3 of 119 The European Union Agency for the Cooperation of Energy Regulators ( the Agency or ACER ) is the European Union agency created by the Third Energy Package to achieve the Internal Energy Market (IEM). According to REMIT (Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency), the Agency is responsible for monitoring wholesale energy markets to detect market abuse. National Regulatory Authorities (NRAs) are in charge of investigating suspicious cases of market abuse and enforcing REMIT within their national legal framework.

3 The second subparagraph of Article 16(1) of REMIT provides that the Agency shall publish non-binding Guidance on the application of the definitions set out in Article 2 of REMIT, as appropriate. In addition, according to the first subparagraph of Article 16(1) of REMIT, the Agency shall aim to ensure that NRAs carry out their tasks under REMIT in a coordinated and consistent way. For this purpose, the Agency may issue Guidance both on the application of the definitions set out in Article 2 of REMIT and on other issues related to the application of REMIT.

4 Therefore, the non-binding Guidance on the application of REMIT provided in this document is aimed at helping NRAs, to ensure the required coordination and consistency in their activities under REMIT. It is deliberately drafted in non-legal terms and made public for transparency purposes only. It is updated as needed to reflect the changing market conditions and the experience gained by the Agency and NRAs in the implementation and application of REMIT, including through the feedback of market participants and other stakeholders.

5 This Guidance is without prejudice to Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation - MAR), Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (MiFID II) and Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments ( mifir ) applying to wholesale energy products which are financial instruments, as well as to the application of European competition law to the practices covered by REMIT.

6 More information on the Agency: More information on the Agency s activities under REMIT: The Agency s REMIT Portal: ACER Guidance ON THE APPLICATION OF REMIT Page 4 of 119 Related Documents 1st edition of ACER Guidance on the application of the definitions set out in Article 2 of Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency 2nd edition of ACER Guidance on the application of Regulation (EU)

7 No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency The updated 2nd edition of ACER Guidance on the application of Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency (REMIT) 3rd edition of ACER Guidance on the application of Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency The updated 3rd edition of ACER Guidance on the application of Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency (2).

8 Pdf 4th edition of ACER Guidance on the application of Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency 5th edition of ACER Guidance on the application of Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency The updated 5th edition of ACER Guidance on the application of Regulation (EU)

9 No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency ACER Guidance Note 1/2017 on the application of Article 5 of REMIT on the prohibition of market manipulation to wash trades 19 June 2017 ACER Guidance Note 1/2018 on the application of Article 5 of REMIT on the prohibition of market manipulation to transmission capacity hoarding 22 March 2018 ACER Guidance ON THE APPLICATION OF REMIT Page 5 of 119 ACER Guidance Note 1/2019 on the application of Article 5 of REMIT on the prohibition of market abuse to layering and spoofing 22 March 2019 COMMISSION DELEGATED REGULATION (EU) 2016/522 of 17 December 2015 supplementing Regulation (EU)

10 No 596/2014 of the European Parliament and of the Council as regards an exemption for certain third countries public bodies and central banks, the indicators of market manipulation, the disclosure thresholds, the competent authority for notification of delays, the permission for trading during closed periods and types of notifiable managers transactions :32016R0522&from=EN COMMISSION DELEGATED REGULATION (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.