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REMIT_eng

Rule on Wholesale Energy Market Integrity and Transparency (REMIT). This rule, which will be implemented by the Energy Regulator, sets out the criteria that prohibit abusive practices that affect wholesale energy markets, and also provides for the monitoring of wholesale energy markets in the country. Approval of this rule proves the importance that the Regulator dedicates to the competitive market, and the need to ensure the integrity of this market, based on the Acquit of the European Union, especially knowing that Kosovo’s Regulator is the first among the contracting parties of the Energy Community to approve this rule. REMIT is a regulation of the European Union (EU) on the integrity and transparency of the energy market (No. 1227/2011). This regulation has entered into force on 28 December 2011 and Kosovo as a contracting party to the Energy Community has an obligation to transpose it, as it is also obliged to implement other EU energy legislation. REMIT ensures a consistent regulatory framework across the EU, specific to wholesale energy markets.  REMIT establishes a very important regulatory framework for identifying and penalizing market abuse in Kosovo and the rest of Europe. It also helps the customers, industry and other stakeholders to build confidence that wholesale energy prices are open, fair and competitive – which is the foundation for the effective functioning of the energy market.