Abstract
Whilst many realize that the prohibition on market manipulation in REMIT applies to trading through electronic markets and in physical supply, it is perhaps less well-known that the prohibition also applies to cases where misleading signals are sent in electricity balancing. Three recent cases have illustrated this. In two German cases the companies were fined €200,000 and €175,000; in an English case, the case was closed without formal proceedings (although the company had paid £6 million into the Ofgem voluntary redress fund).
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