The Energy and Water Regulatory Commission (EWRC) adopted a decision to initiate proceedings, because of potential violation of Art. 3 and Art. 5 of Regulation (EU) № 1227/2011 / REMIT / on the integrity and transparency of the wholesale energy market. The violation is for insider trading and market manipulation.
The decision to initiate proceedings was taken at a closed meeting of the regulator held on June 10, 2020, at which a report of an expert group from the established REMIT Directorate was discussed. The preliminary investigation found reasonable suspicion of a violation under Art. 3 and Art. 5 of Regulation (EU) № 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency.
The closed session is part of the procedure for sanctioning participants in the wholesale market for energy (electricity and gas), who have committed manipulative actions and / or traded inside information.
According to the provision of art. 74a, para. 8 of the Energy Act, the decisions and the minutes of the meetings of the Commission, related to the preliminary investigation and the conclusion of a violation under Art. 3 and Art. 5 of Regulation (EU) № 1227/2011, are not published on the EWRC website.