REMIT II is published in the Official Journal of the European Union

Regulation (EU) 2024/1106 of the European Parliament and of the Council of 11 April 2024 amending Regulations (EU) No 1227/2011 and (EU) 2019/942 as regards improving Union protection against market manipulation for wholesale energy trading, was published in the Official Journal of the European Union and enters into force on May 7, 2024, with the dates of application of some provisions varying, IBEX informed.

REMIT II is a first-level amendment to the original REMIT and covers many topics. The main changes are:

New definitions of several terms, including "wholesale energy products", "insider information" and "market manipulation".

Requirements regarding algorithmic trading in energy markets.

New requirements in the scope of reporting obligations.

Requirement for non-EU entities to have a "representative" in the EU.

Extending the investigative powers of the European Union Agency for the Cooperation of Energy Regulators (ACER).

The changes also include new requirements for organized markets, registered reporting mechanisms, insider information platforms, etc.

The European Union Agency for the Cooperation of Energy Regulators (ACER) has published an Open Letter answering questions from stakeholders to help them meet their obligations under the new REMIT II.

More information here: https://www.acer.europa.eu/remit/about-remit