Consultation outcome

Strengthening the regulation of wholesale energy markets through new criminal offences

From:: Department of Energy & Climate Change
Published: 6 August 2014
Last updated: 22 January 2015 — See all updates

Read the full outcome

Government response

Ref: 14D/277

PDF, 444 KB, 20 pages

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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

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.

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