President of Ukraine Volodymyr Zelensky has signed a law on preventing abuse in wholesale energy markets, which implements the provisions of the EU regulation on the integrity and transparency of the wholesale energy market REMIT.
Source. MP Yaroslav Zhelezniak reported this on his Telegram channel.
He noted that 257 MPs voted in favor of the bill.
According to the explanatory note to the document, it defines a number of key elements to increase transparency in wholesale energy markets. These include the introduction of tools to combat abuse in wholesale energy markets and the prohibition of manipulation.
The document also defines the requirements for disclosure of insider information by market participants and establishes obligations for companies organizing trading operations to report suspicious transactions.
In addition, it provides for the strengthening of the powers of the National Commission for State Regulation of Energy and Public Utilities (NEURC) to investigate abuses.
The implementation of the law is expected to increase the transparency of wholesale energy markets (electricity and natural gas markets), promote open and fair competition in these markets for the benefit of end consumers of electricity and natural gas.
REMIT (Regulation on Wholesale Energy Market Integrity and Transparency) is an EU regulation aimed at increasing the transparency and stability of European energy markets, while combating inside information trading and market manipulation. REMIT was adopted in the European Union in 2011.