Arsen Ilin during the roundtable discussion on REMIT: NSSMC is ready to provide professional expertise for transparent operation of the energy sector

Arsen Ilin, the Commissioner, took part in the roundtable discussion: «Integrity and transparency of energy markets in Ukraine. Practical aspects and implementation».

The event was organised by the NEURC in cooperation with the USAID Energy Security Project.

The event brought together more than 300 representatives of stakeholders and participants of the wholesale electricity and natural gas markets covered by the REMIT legislation.

The participants discussed the implementation of the European REMIT mechanism for the development of transparent and competitive energy markets in Ukraine. This is an essential step towards further integration of the energy markets of Ukraine and the EU.

Arsen Ilin shared the experience of the capital markets regulator in conducting investigations and insider trading: «Remit has only just introduced these options to the energy market. And NSSMC has a fairly extensive background in these issues and can share its expertise to ensure transparency in the energy sector. I can say with certainty that the difficulty on this path also lies in the judicial system, when it is necessary to defend its decisions to obtain effective results».

Among other things, the Commissioner explained to the participants that NSSMC’s investigative capabilities may be expanded as early as 2026 under the Law of Ukraine on Improving State Regulation and Supervision of Capital Markets and Organised Commodity Markets.

Background information:

In 2023, the Verkhovna Rada of Ukraine adopted the Law of Ukraine on Amendments to Certain Laws of Ukraine on Prevention of Abuse in Wholesale Energy Markets.

The law implements EU Regulation No. 1227/2011 on Wholesale Energy Market Integrity and Transparency (REMIT), a set of European rules and practices aimed at preventing abuse in the energy market, into national legislation.