Estonian Competition Authority
On 4 November 2015 the Competition Authority imposed a fine on Elering AS for breach of Regulation (EU) No 1227/2011 of the European Parliament and of the Council on Wholesale Energy Market Integrity and Transparency (hereinafter – REMIT). The said breach took place in June of 2014. The sum of the imposed fine is 10,000 euros. In July of 2014 Elering AS performed works on maintenance and embedding of Estlink2 interconnection between Estonia and Finland, which resulted in a outage of the interconnection. Elering AS did not publish inside information with regard to performance of the works in due time, thus breaching the public disclosure obligation set out in REMIT.
According to REMIT, market participants shall publicly disclose in an effective and timely manner inside information which they possess in respect of business or facilities which the market participant concerned, or its parent undertaking or related undertaking, owns or controls or for whose operational matters that market participant or undertaking is responsible, either in whole or in part.