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Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency (OJ No L 326, 08.12.2011, p1) (“REMIT”) imposes obligations and prohibitions in relation to trading in wholesale energy products within the European Union.
The Electricity and Gas (Market Integrity and Transparency) (Enforcement etc.) Regulations 2013 (“the 2013 Regulations”) confer investigatory and enforcement powers on the Gas and Electricity Markets Authority (“the Authority”) in relation to REMIT requirements.
This instrument amends Part 1 of Schedule 1 to the Criminal Justice and Police Act 2001 so that section 50 of that Act (additional powers of seizure from premises) will apply to seizures by the Authority in the exercise of its powers under regulation 16(4) of the 2013 Regulations.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sectors is foreseen.
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