MIDL
How it works About REMIT fines Blog

Stay on the right side of REMIT

If you trade wholesale gas or power in the EU or Great Britain, REMIT almost certainly applies.

We identify which REMIT obligations apply to you, test whether you meet each one, and help you close any gaps.

We can also manage your reporting for you.

Take the free Readiness CheckDoes it apply to you? ↓

Your duties under REMIT

  • Register as a market participant
  • Publish inside information
  • Report your tradesEU: by fixed deadlines · GB: on request
  • Trade with integrityNever engage in insider trading or market manipulation.

Where firms go wrong

  • Working out which rules applyThe rules are spread across regulations and official guidance, and which ones apply depends on what you trade. Since Brexit, the EU and GB versions have split.
  • Meeting your duties every dayEvery report, every deadline, every trade.
  • Keeping up with the rules as they changeThe EU overhauled its rules with REMIT II in 2024, and the new duties arrive in stages through to 2028.

The cost of getting it wrong

EU

Fines for a reporting or registration failure can now reach 1% of annual turnover, and for market manipulation 15%.

GB

Ofgem’s fines are unlimited, and several firms have been fined over £2m each.

See who has been fined, and why →

How MIDL helps

Our free Readiness Check shows which rules apply and where your gaps are likely to be.Our Diagnostic confirms which gaps are real and checks each one is closed once you’ve fixed it.Or let Managed Reporting take the reporting off your hands and keep up with the rules for you.

Start free. Add more when you’re ready.

Free About 5 minutes

You answer a few questions about your business.
You get:

  • Which REMIT rules apply to you, and when
  • Where your gaps are likely to be
  • An action plan as a PDF

Based on your answers only, so no data needed.

Take the free Readiness Check