The Bill on the Implementation of a Regulation on wholesale Energy Market Integrity and Transparency (Wetsvoorstel Uitvoering van een verordening betreffende de integriteit en transparantie van de groothandelsmarkt voor energie) (TK 33510, 2) was presented on 10 January 2013. The bill is intended to implement Regulation (EU) 1227/2011 of 25 October 2011, the REMIT Regulation. The Regulation’s goal is to create a harmonised framework to safeguard the transparency and integrity of the wholesale energy market and to prevent the misuse of that market. The Regulation applies to, amongst other things, the trade in energy products intended for the wholesale market, including contracts for the supply and transport of electricity or gas. The Regulation does not apply to the trade in contracts for supplying gas or electricity to small users. A Memorandum of Amendment was published on 9 April 2013 (TK 33510, 6).
The Regulation has a direct effect, but some provisions require implementation, which will in turn require the amendment of a number of laws. The Authority for Consumers & Markets (“ACM”) is primarily tasked with supervising compliance with, and enforcement of, the Regulation. In addition to enforcement under administrative law, enforcement will also be made possible under criminal law.