Last Update
14. May 2026
REMIT in Switzerland / REMIT 2 / BATE
Common questions on identifying and publishing inside information under REMIT.
Market transparency and integrity
- REMIT 2 and its related reporting and registration requirements also apply to market participants with their registered office/place of domicile in Switzerland.
- Based on Art. 26abis of the Electricity Supply Ordinance (ESO), the same information on wholesale electricity trading that must be reported under ACER REMIT must also be sent to ElCom at the same time and in the same format. ElCom evaluates this data and contacts the market participants concerned if irregularities are identified.
- ElCom Links:
What is BATE?
- BATE stands for the Federal Act on the Supervision and Transparency of Wholesale Energy Markets in Switzerland. It is also commonly referred to as Swiss REMIT because it largely mirrors the EU’s REMIT regulation (Regulation (EU) No 1227/2011) but is tailored for the Swiss energy market.
- Purpose and Scope
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- BATE establishes a legal framework for transparency and supervision of wholesale electricity and gas markets in Switzerland.
- Its goals include preventing insider trading and market abuse, increasing transparency, and improving oversight of trading activities in the Swiss wholesale energy market.
- It applies to both Swiss and non‑Swiss market participants that trade, place orders, or engage in transactions in Swiss wholesale energy products.
- BATE aligns many of its key provisions with EU REMIT but also contains specific Swiss adaptations.
- Key Requirements Under BATE
- Registration and Reporting
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- Market participants and brokers must register with the Swiss Federal Electricity Commission (ElCom).
- Participants must report wholesale energy transactions, trade orders, and fundamental data related to their facilities to ElCom.
- Publication of Insider Information
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- Inside information about wholesale energy products must be publicly disclosed when known, similar to REMIT Inside Information obligations.
- Prohibitions and Market Conduct
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- BATE introduces a general prohibition on insider trading and market abuse for wholesale energy products.
- This includes restrictions on using non‑public material information to trade, passing it to others, or using it to influence transactions.
- Swiss‑EU Interaction
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- For Swiss participants who also operate under EU REMIT, the same information reported to EU authorities must be provided to ElCom in the same format and at the same time.
- Certain insider reporting already required by EU REMIT will continue to be submitted to ElCom under current Swiss rules until BATE fully enters into force.
- Implementation Status
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- BATE was published in the Federal Gazette and adopted by the Swiss Parliament in March 2025.
- It is expected to enter into force in 2026, with transitional and implementation periods to be defined.
BATE Overview
Here is a brief summary of the BATE (Swiss Federal Act on the Supervision and Transparency of Wholesale Energy Markets):
Overview:
- The BATE law, adopted on March 21, 2025, strengthens supervision and transparency in Swiss wholesale energy markets. It aims to ensure fair competition, prevent market manipulation, and foster trust in the market’s integrity. This regulation applies to all market participants engaged in energy trading within Switzerland and the European Union.
Key Provisions:
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- Market Participants’ Obligations:
- Registration with the Federal Electricity Commission (ElCom) is required for participants in Swiss and European markets before engaging in transactions.
- Market participants must report their transactions, trading orders, and basic data about their facilities to ElCom.
- Insider Information:
- Market participants are required to publish insider information (i.e., confidential data that could significantly impact the price of energy products) via approved platforms.
- Delays in publication are allowed under specific conditions but must be reported to ElCom.
- Market Manipulation & Abuse:
- The law prohibits insider trading and market manipulation, with specific penalties for violations.
- Regulatory enforcement includes fines, suspension of market access, and criminal penalties for severe breaches.
- Registration & Licensing of Information Platforms:
- Platforms for publishing insider information must be registered with ElCom.
- Market participants using these platforms must ensure the information is secure, accurate, and efficiently published.
- Penalties for Non-compliance:
- Severe violations can result in financial penalties of up to 15% of the previous year’s turnover for market participants, depending on the severity of the offense.
- The ElCom has the authority to impose sanctions and take corrective action if market integrity is compromised.
- Market Participants’ Obligations:
International Cooperation:
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- BATE also outlines the conditions for Swiss authorities to cooperate with foreign regulators, share information, and ensure market integrity is maintained across borders.
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Implementation:
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- BATE will enter into force after the completion of the referendum period by July 10, 2025. Specific guidelines and technical details will be outlined by the Swiss Federal Council.
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This law closely aligns with EU regulations like REMIT and seeks to bring Switzerland’s energy market into compliance with international standards of transparency and fair competition.
Key Milestones for BATE Implementation
- March 21, 2025: The Federal Act on the Supervision and Transparency of Wholesale Energy Markets (BATE) was adopted by the Swiss Parliament.
- July 10, 2025: The deadline for the referendum period expired with no referendum launched, meaning the law stands confirmed.
- 2026 (expected): BATE is anticipated to enter into force during 2026, triggering the reporting and transparency obligations for market participants.
🕒 Implementation Notes
- Although the law itself has been adopted and the referendum period finished in mid‑2025, the exact effective date will be set later, typically when the implementing ordinance is finalized.
- The Swiss Federal Council launched a consultation on the implementing ordinance (VATE) from January 28 to May 5, 2026. This ordinance will define practical details such as reporting formats, deadlines, registration procedures, etc.
- Once the ordinance is finalized and published, the specific compliance deadlines and transitional periods for market participants will become clear.
📌 Practical Implications
- Market participants should prepare for 2026 compliance, including registration with ElCom, reporting processes, and publication of insider information, in line with Swiss BATE requirements.
- Further detailed deadlines (e.g., for phased implementation of reporting, gradual enforcement, or data format requirements) will be set once the implementing ordinance is formally issued.
Note: This FAQ collection has been compiled from various sources and reflects our understanding. It is provided for informational purposes only and is not legally binding. We do not take any legal responsibility for the accuracy or completeness of the information. For legal or regulatory matters, please consult a professional.