On 18 November 2020, the Agency for the Cooperation of Energy Regulators (ACER) published the fifth edition of its guidance on the application of Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency (REMIT). In this edition, ACER provides more detailed guidance concerning the definition of information and inside information under REMIT.
In particular, in this edition ACER further elaborates and provides examples on the definitions of information and inside information as laid down in Article 2(1) of REMIT. It explains how the assessment of the four criteria of inside information foreseen in REMIT should be performed. It also brings up to date the references to the changed financial market regulation (i.e., references to the Market Abuse Directive and the Markets in Financial Instruments Directive were replaced by references to the Market Abuse Regulation, the Markets in Financial Instruments Regulation, and the Markets in Financial Instruments Directive II) and repealed electricity regulation (i.e., references to Regulation 714/2009 of the European Parliament and of the Council of 13 July 2009 were replaced with the corresponding ones to Regulation (EU) 2019/943 of the European Parliament and of the Council of 5 June 2019).