NRAs
National Regulatory Authorities; ACER's 27-member-state network; filed 204 STORs in 2025.
Last refreshed: 18 May 2026 · Appears in 1 active topic
Which NRA will land the first REMIT 2.0 enforcement action after the T+10 deadline?
Timeline for NRAs
Filed 204 STORs in 2025, double the prior year, under existing REMIT framework
European Energy Markets: REMIT 2.0 T+10 lands; STORs double- What are National Regulatory Authorities in EU energy markets?
- National Regulatory Authorities (NRAs) are the independent energy regulators in each EU member state — for example Ofgem in the UK (post-Brexit), BNetzA in Germany, CRE in France, and CNMC in Spain. They enforce REMIT and REMIT 2.0 at national level, investigate market manipulation, and can fine market participants for breaches of EU wholesale energy market rules.Source: Lowdown European Energy Markets
- How many suspicious transaction reports did EU energy regulators file in 2025?
- EU NRAs filed 204 suspicious transaction and order reports (STORs) in 2025 under the original REMIT framework, according to ACER's enforcement report published in May 2026. STOR volumes doubled after the REMIT 2.0 T+10 deadline landed on 12 May 2026, suggesting the new reporting rules are generating significantly more surveillance activity.Source: Lowdown European Energy Markets
- Why is ACER worried about NRA capacity under REMIT 2.0?
- REMIT 2.0 significantly expands the volume of transaction data NRAs must process and the number of PPATs they must supervise. ACER's 2026 report flagged that several NRAs lack the technical staff and analytical tools to handle the increased data load, creating enforcement gaps where suspicious activity may go uninvestigated even if reported.Source: Lowdown European Energy Markets
- What is ACER and how does it relate to national energy regulators?
- ACER (Agency for the Cooperation of Energy Regulators) is the EU body that coordinates national energy regulators and oversees REMIT market surveillance at EU level. It does not have direct enforcement powers but monitors NRA activity, publishes enforcement reports, and can refer cases to the European Commission when national enforcement is inadequate.Source: Lowdown European Energy Markets
- What is REMIT 2.0 and how does it change energy market oversight?
- REMIT 2.0 is the revised EU Regulation on wholesale energy market Integrity and transparency, which updates the original 2011 REMIT framework. Key changes include mandatory T+10 transaction reporting by PPATs, expanded coverage of new energy products, tighter rules on algorithmic trading, and enhanced ACER coordination powers. The first reporting deadline under REMIT 2.0 was 12 May 2026.Source: Lowdown European Energy Markets
Background
NRAs (National Regulatory Authorities) are the independent energy regulators in each EU member state, collectively forming ACER's enforcement network across the European Union. Under REMIT (the EU Regulation on wholesale energy market Integrity and transparency) and its updated REMIT 2.0 framework, NRAs are responsible for investigating and sanctioning market abuse in their national jurisdictions, coordinating through ACER where cross-border activity is involved. In 2025, NRAs filed 204 STORs (Suspicious Transaction and Order Reports) across the 27-member network, double the 2024 figure, generating the enforcement dataset that ACER's May 2026 annual report drew on .
NRAs include major regulators such as Bundesnetzagentur (Germany), Ofgem (UK, now no longer an EU NRA post-Brexit), CNMC (Spain), CRE (France), and Autorità di Regolazione per Energia Reti e Ambiente (ARERA, Italy). ACER coordinates the network but does not have direct enforcement powers against individual market participants; that authority rests with each NRA in its jurisdiction. NRA capacity varies significantly: larger member states maintain dedicated REMIT enforcement teams while smaller member states share resource across regulatory functions.
The REMIT 2.0 T+10 reporting deadline of 12 May 2026 will substantially increase the data volume flowing to NRAs from trading intermediaries. ACER's May 2026 enforcement report implicitly acknowledges that NRA capacity is already stretched by the 2025 STOR doubling before the new data arrives. The first REMIT 2.0 enforcement action originating from an NRA will set the domestic and cross-border precedent tariff for the post-T+10 compliance era.
