Consultation outcome

Strengthening the regulation of wholesale energy markets through new criminal offences

This consultation was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

This consultation has concluded

Download the full outcome

Government response

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Detail of outcome

Following the outcome of the consultation, the government is going ahead with the creation of new the criminal offences. The regulations have been laid in draft before Parliament. Subject to parliamentary process the regulations are expected to come into force in April 2015.

A copy of the draft regulations and Impact Assessment are also available on the legislation.gov.uk website.

Original consultation

This consultation ran from to

Summary

Seeking views on proposals to create two new criminal offences of energy market manipulation and insider trading.

Documents

Strengthening the regulation of wholesale energy markets through new criminal offences

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REMIT criminal sanctions: Impact Assessment

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Consultation description

This consultation seeks views on proposals to create two new criminal offences of energy market manipulation and insider trading. The proposed offences would give UK energy regulators new powers to prosecute people suspected of abusing the wholesale electricity and gas markets.

This would strengthen the civil regime that the Government has put in place to implement REMIT (The EU Regulation on Wholesale Market Integrity and Transparency). It meets the commitment made as part of the Annual Energy Statement 2013 to consult on creating criminal sanctions for energy market abuse. The consultation covers the UK as a whole.

Your response will be most useful if it is framed as a direct response to the questions posed, though further comments and evidence are also welcome.