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(1) what progress has been made on the implementation of EU Regulation 1227/2011 on wholesale energy market integrity and transparency; and if he will make a statement;
(2) what steps his Department has taken to transpose EU Regulation 1227/2011, on wholesale energy market integrity and transparency into UK law.
The UK has taken a leading role in the development of the EU regulation on wholesale energy market integrity and transparency (REMIT) and aims to be one of the first member states to implement REMIT in full.
The core provisions of REMIT that need to be implemented are investigatory and enforcement powers for national regulatory authorities, including a framework for penalties. The UK intends to have these powers in place by
The Government will update Parliament on the UK’s regime when the regulations have been made.