A new EU directive that obligates all power station operators to inform the public in as much detail possible about the current status of electrictyproduction has been endorsed by RWE npower. The Regulation on Energy Market Integrity and Transparency (REMIT) aims to prohibit market abuse such as insider trading in wholesale energy markets.
Kevin McCullough, chief operating officer at RWE npower said: “The UK has one of the most transparent markets in Europe and we are fully supportive of additional measures to further increase transparency in the power market. We will now be publishing information on the output of our portfolio, which will be updated every 30 minutes on our website. We will also undertake to publish any urgent market messages and planned outages.”
The regulation will apply to transactions entered into by end users of gas and electricity with an annual consumption of 600 GWh or more.