Stek represents PZEM in REMIT-procedure
Stek has assisted electricity producer PZEM in a sanction procedure of the Authority for Consumers and Markets (ACM) pertaining to the compliance with the REMIT-regulation (Regulation (EU) 1227/2011, REMIT). REMIT introduces a sector-specific legal framework to support open and fair competition on the European wholesale energy markets. The investigation of the ACM dated back to 2017 and related to the Sloe power plant. The sanction procedure ended in the second quarter of 2022 with a sanction decision in which ACM imposes a fine on PZEM for non-compliance with publication obligations (section 4 REMIT). PZEM submitted an extensive opinion further to the sanction report of the ACM and decided to not challenge the eventual sanction decision.
Click here for the press release on the website of PZEM, with reference to the press release and the sanction decision of ACM (in Dutch).
Frank Verhagen, CEO PZEM: “In this long procedure we worked together very closely and pleasantly with the Stek team. We are happy that we can put this case behind us. PZEM has further strengthened its REMIT-compliance and applauds the guidance that ACM will give the market on this subject”.
This is the first case of its kind in the Netherlands and European precedents are scarce. If your organization has any questions about REMIT, please contact: