EP announced it has adopted the Regulation on Energy Market Integrity and Transparency (REMIT) on 14 September. REMIT will govern all wholesale energy trading in the EU, and will cover contracts and derivatives for the supply and transportation of natural gas and electricity. It bans the use of insider information and market manipulation. All trade deals will be monitored by the newly set up Agency for the Cooperation of Energy Regulators (ACER), which will supply information to Member States for them to take appropriate action. All energy traders will also have to appear on a national register. REMIT now awaits formal adoption, and will come into force 20 days after it is published in the Official Journal. The Commission will then make implementing legislation. (Source: EP Adopts REMIT)