REMIT prohibits the abuse of inside information and the manipulation of the wholesale energy market. According to REMIT, market participants are obligated to publish any inside information on wholesale energy products that will likely have a significant impact on the wholesale energy market that they have in their possession. REMIT also requires that parties trading on the wholesale market register as market participants in the REMIT register maintained by the national regulator and report their transactions to the Agency for the Cooperation of Energy Regulators (ACER).
The Energy Authority is the national regulator of the wholesale energy market in Finland. Executive powers of the Energy Authority include monitoring of compliance with Regulation (EU) No 1227/2011 of the European Parliament and the Council, hereinafter “REMIT”.