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Regulation On Wholesale Energy Market Integrity And Transparency
Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) is an EU regulation designed to increase the transparency and stability of the European energy markets while combating insider trading and market manipulation. REMIT was adopted in the European Union in 2011. Part of the regulation went into immediate effect in all EU member states, with some obligations around registration and transaction reporting only coming into effect once the REMIT Implementing Acts have been passed. The EU agency ACER has been tasked with the supervision and regulation of energy markets in accordance with REMIT. EU Legislation In October 2011, the European Parliament and the European Council adopted Regulation (EU) No. 1227/2011, Regulation on Wholesale Energy Market Integrity and Transparency (REMIT). REMIT entered into force on 28 December 2011, twenty days after publication in the EU Official Journal. The collection of transactions on the wholesale energy market as prescribed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulation (European Union)
A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law. Regulations can be adopted by means of a variety of legislative procedures depending on their subject matter. Description The description of regulations can be found in Article 288 of the Treaty on the Functioning of the European Union (formerly Article 249 TEC). Article 288 To exercise the Union's competences, the institutions shall adopt regulations, directives, decisions, recommendations and opinions. A regulation shall have general application. It shall be binding in its entirety and directly applicable in all Member States. A directive shall be binding, as to the result to be achieved, upon each Member State to which it is addressed, but shall leave to the national authorities the choice of form and methods. A decision ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Personality
Legal capacity is a quality denoting either the legal aptitude of a person to have rights and liabilities (in this sense also called transaction capacity), or altogether the personhood itself in regard to an entity other than a natural person (in this sense also called legal personality). Natural persons Capacity covers day-to-day decisions, including: what to wear and what to buy, as well as, life-changing decisions, such as: whether to move into a care home or whether to have major surgery. As an aspect of the social contract between a state and its citizens, the state adopts a role of protector to the weaker and more vulnerable members of society. In public policy terms, this is the policy of ''parens patriae''. Similarly, the state has a direct social and economic interest in promoting trade, so it will define the forms of business enterprise that may operate within its territory, and lay down rules that will allow both the businesses and those that wish to contract with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union Regulations
European, or Europeans, or Europeneans, may refer to: In general * ''European'', an adjective referring to something of, from, or related to Europe ** Ethnic groups in Europe ** Demographics of Europe ** European cuisine, the cuisines of Europe and other Western countries * ''European'', an adjective referring to something of, from, or related to the European Union ** Citizenship of the European Union ** Demographics of the European Union In publishing * ''The European'' (1953 magazine), a far-right cultural and political magazine published 1953–1959 * ''The European'' (newspaper), a British weekly newspaper published 1990–1998 * ''The European'' (2009 magazine), a German magazine first published in September 2009 *''The European Magazine'', a magazine published in London 1782–1826 *''The New European'', a British weekly pop-up newspaper first published in July 2016 Other uses * * Europeans (band), a British post-punk group, from Bristol See also * * * Europe (disambi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy In Europe
Energy in Europe includes energy and electricity production, consumption and import in Europe. Primary energy consumption by country Primary energy consumption for selected European and Eurasian countries in million tonnes of oil equivalent (Mtoe) from 2010 to 2015, according to BP, is listed below. Primary energy consumption per capita (2008) The European primary energy use per capita (TWh per million people) in 2008 is listed below. Mtoe = 11.63 TWh primary energy, includes energy losses Oil Oil is one of the largest primary energy sources in Europe. It is mostly used for transportation and heating. Oil production is relatively low in Europe, with significant production only in the North Sea. Most of Europe's oil comes from imports (about 90% for the EU28). Electricity Renewable energy The twelve newer EU Member States in Central and Eastern Europe plan to increase wind power capacity from the 6.4 gigawatts installed at the end of 2012 to 16 gigawatts by 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nord Pool
Nord Pool AS is a pan-European power exchange. Nord Pool has a main office in Oslo and further offices in Stockholm, Helsinki, Tallinn, Berlin and London. The company is owned by the European exchange operator Euronext as well as TSO Holding, which represents the continental Nordic and Baltic countries' transmission system operators (TSOs: Fingrid, Energinet, Statnett, Svenska Kraftnät, and Litgrid). Nord Pool has two subsidiaries, Nord Pool AB and Nord Pool Finland Oy. History 1932-1991: Norwegian origins Nord Pool traces its origin to ' (lit. the ''Coordination Association''), a power exchange formed by eastern Norwegian electricity companies in 1932 on the initiative of Augustin Paus, and which soon encompassed all the electricity companies in eastern Norway. In 1971 the exchange merged with the regional exchanges in other parts of Norway, and became ' (literally the ''Coordination of Power Stations in Norway''), with 118 power companies as members as of 1988. 1991-20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Of European Energy Regulators
The Council of European Energy Regulators (CEER) is a non-profit organisation in which Europe's national energy regulators voluntarily cooperate to protect consumer interests and to facilitate the creation of a single, competitive and sustainable internal market for gas and electricity in Europe. Foundation and mission In March 2000, ten national energy regulatory authorities voluntarily signed a "Memorandum of Understanding" for the establishment of the Council of European Energy Regulators (CEER). CEER's objective is to facilitate cooperation among Europe's energy regulators in promoting a single-EU electricity and gas market. In 2003 the CEER was formally established as a "not-for-profit association" under Belgian law, with its own Brussels-based Secretariat. CEER represents 30 Members - the national energy regulators from the EU Member States, Iceland, Norway and Great Britain as CEER Members, and the regulators of Albania, Bosnia and Herzegovina, Georgia, Kosovo, Moldova, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unique Transaction Identifier
A Unique Transaction Identifier (Acronym: UTI), alternatively called Unique Swap Identifier (Acronym: USI) is a globally unique identifier for individual transactions in financial markets. USIs were introduced in late 2012 in the U.S. in the context of Dodd–Frank regulation, where reporting of transactions to Trade Repositories first became mandatory. European financial market regulations followed suit, with reporting to Trade Repositories under EMIR requiring UTIs from February 2014 on. The use of the UTI is also mandatory for regulatory reporting under REMIT. Strictly speaking, the term USI is specific to the U.S. regulation, while UTI is specific to EU regulations. In practice, both terms are used interchangeable, in particular within large trading firms reporting under both regimes. The UTI/USI is governed by the ISO 23897 standard. Structure A UTI/USI is an alphanumeric code of fixed length, with the maximum length defined as either 42 (U.S.) or 52 (EU) characters. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Market Infrastructure Regulation
The European Market Infrastructure Regulation (EMIR) is an EU regulation aimed at reducing systemic counterparty and operational risk and thereby prevent future financial system collapses. Its focus is regulation of over-the-counter (OTC) derivatives, central counterparties and trade repositories. It provides steer on reporting of derivative contracts, implementation of risk management standards and common rules for central counterparties and trade repositories. The regulation was initially adopted in 2012 and an amended version, the EMIR Refit regulation, was later on adopted in 2019. Overview The European Market Infrastructure Regulation (EMIR) is EU regulation for over-the-counter (OTC) derivatives, central counterparties and trade repositories. EMIR was introduced by the European Union (EU) as implementation of the G20 commitment to reduce systemic, counterparty and operational risk, and increase transparency in the OTC derivatives market. It was also designed as a p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transmission System Operator
File:Electricity grid simple- North America.svg, 380px, Simplified diagram of AC electricity grid from generation stations to consumers rect 2 243 235 438 Power station rect 276 317 412 556 Transformer rect 412 121 781 400 Electric power transmission rect 800 0 980 165 Transformer desc bottom-left A transmission system operator (TSO) is an entity entrusted with transporting energy in the form of natural gasEuropean Network of Transmission System Operators for Gas ''''. Retrieved: 2 October 2010. or electrical power on a national or regional level, using fixed |
Natural Person
In jurisprudence, a natural person (also physical person in some Commonwealth countries, or natural entity) is a person (in legal meaning, i.e., one who has its own legal personality) that is an individual human being, distinguished from the broader category of a legal person, which may be a private (i.e., business entity or non-governmental organization) or public (i.e., government) organization. Historically, a human being was not necessarily considered a natural person in some jurisdictions where slavery existed (subject of a property right) rather than a person. Definitions According to Maria Helena Diniz, an individual or natural person "is the human being considered as a subject of rights and obligations". Every human being is endowed with legal personality and, therefore, is a subject of law. According to Sílvio de Salvo Venosa, "legal personality is a projection of the intimate, psychic personality of each person; it is a social projection of the psychic personality ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Directorate-General For Energy (European Commission)
The Directorate-General for Energy (DG Ener), or ENER, is a Directorate-General of the European Commission, created on 17 February 2010 when it was separated from the Transport DG, with which it had been combined since 2000. Mission The Directorate-General for Energy is responsible for promoting and regulating the European Energy Union and, since 2019, overseeing the implementation of the Clean Energy for all Europeans package as part of the European Green New Deal. Resources The Directorate-General for Energy, based primarily in Brussels, reports to Kadri Simson, European Commissioner for Energy. The former Commissioner for Energy and Climate was Miguel Arias Cañete. The current Director-General is Ms Ditte Juul-Jorgensen, former Director-Generals include Mr Dominique Ristori and Mr Phillip Lowe. Structure The Directorate-General is made up of 6 Directorates (two of which deal with EURATOM issues), and the Euratom Supply Agency. See also * Energy policy of the European Unio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transparency (market)
In economics, a market is transparent if much is known by many about: What products and services or capital assets are available, market depth (quantity available), what price, and where. Transparency is important since it is one of the theoretical conditions required for a free market to be efficient. Price transparency can, however, lead to higher prices. For example, if it makes sellers reluctant to give steep discounts to certain buyers (e.g. disrupting price dispersion among buyers), or if it facilitates collusion, and price volatility is another concern. A high degree of market transparency can result in disintermediation due to the buyer's increased knowledge of supply pricing. There are two types of price transparency: 1) I know what price will be charged to me, and 2) I know what price will be charged to you. The two types of price transparency have different implications for differential pricing. A transparent market should also provide necessary information about qualit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
