(This note is not part of the Regulations)

These Regulations extend to the United Kingdom and create criminal offences for two sets of prohibitions in 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") – those for insider dealing (Article 3) and for market manipulation (Article 5).

REMIT imposes obligations and prohibitions in relation to trading in wholesale energy products within the European Union. "Wholesale energy products" are contracts and derivatives relating to electricity and gas, as defined in Article 2(4) of REMIT.

The Regulations prescribe an Authority, in regulation 2, that is primarily responsible for the investigation and prosecution of offences under these Regulations in particular geographical areas. The Authority is Ofgem for Great Britain and the UK offshore marine area, and the Northern Ireland Authority for Utility Regulation for Northern Ireland.

The offences created refer to specific provisions in REMIT, and exemptions in REMIT to any relevant prohibitions apply. The offences created do not criminalise activity that is not prohibited by REMIT.