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October 21, 2011
The Brattle Group Hosts Seminar with Leading Experts on the Implementation and Enforcement of the European Commission’s Regulation on Energy Market Integrity and Transparency
On October 20, 2011, The Brattle Group hosted a one-day seminar to address the critical issues raised as a result of the European Commission’s Regulation on Energy Market Integrity and Transparency (REMIT). The seminar, “Perspectives on the Implementation and Enforcement of REMIT,” took place in London and featured a number of regulatory, industry, and legal experts. The seminar discussed the impact that REMIT will have on European energy markets, and in particular the issues that must be addressed in order to avoid confusion over how REMIT works in practice and how it governs trading behavior worldwide. Topics included how REMIT will impact physical and financial trading practices, the role that the Agency for the Cooperation of Energy Regulators (ACER) is expected to play in enacting REMIT, the key legal challenges that may be faced, and the need for a cooperative, uniform approach to the analysis of manipulation as it relates to maximizing compliance. Speakers and panelists included:
  • Matthew Allan, Head of Regulatory and External Affairs, Shell International Trading and Shipping Company Limited
  • Joe Bowring, President, Monitoring Analytics
  • Mark Dalton, European Regulation Manager, BG Group
  • Doron Ezickson, Partner, Cadwalader, Wickersham & Taft LLP
  • Brett Hillis, Partner, Reed Smith LLP
  • John Ratliff, Partner, WilmerHale
  • Gerd Stuhlmacher, Director of Legal & Compliance, E.ON Energy Trading SE
  • Peter Willis, Partner, Head of EU and Competition Group, Dundas & Wilson LLP
  • Doug Wood, Head of Regulatory Affairs, BP Gas Marketing Limited
  • Volker Zuleger, Regulation & Competition, E-Control Austria; Co-Chair, Council of European Energy Regulators’ Wholesale Market Functioning Task Force
In addition, Brattle senior consultant Shaun Ledgerwood, a former economist and attorney for the Federal Energy Regulatory Commission, presented a framework for defining, detecting and analyzing manipulative behavior. Brattle principal Dan Harris provided the opening and closing remarks for the program, and principals Carlos Lapuerta and Paul Carpenter served as panel discussion moderators. The slides from the seminar are available for download below.