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NEMO meaning

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What does NEMO mean?
In energy law and trading documentation, a NEMO is the exchange operator appointed to run day‑ahead and/or intraday electricity trading and to perform market coupling between bidding zones and across interconnectors. The term is defined in Regulation (EU) 2015/1222 (the CACM Regulation). In Great Britain, the retained and amended CACM regime continues to use and govern NEMO designations, made by Ofgem. In Ireland and Northern Ireland, the Single Electricity Market (SEM) applies the EU framework, with joint designation by the Commission for Regulation of Utilities (CRU) and the Utility Regulator (UR). Key legal features and obligations include: - operating order books and auctions for day‑ahead and intraday markets; - applying the approved price‑coupling algorithms and coordinating with TSOs on capacity allocation and congestion management; - scheduling/nomination and settlement of coupled trades; and - compliance with regulatory conditions, market codes, REMIT and applicable financial regulation. Practical use: the term appears in exchange rulebooks, market coupling agreements, interconnector access rules, grid/market codes and power trading contracts. The meaning is consistent across England & Wales, Scotland, Northern Ireland and Ireland, although GB no longer participates in the EU Single Day‑Ahead/Intraday Coupling and instead operates alternative cross‑border arrangements; the NEMO role remains central to spot market operation.
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NEWS
US Ninth Circuit applies California choice‑of‑law; Spanish law governs, conferring prescriptive title on Thyssen‑Bornemisza to Nazi‑looted Pissarro despite California’s nemo dat rule

A three-judge bench of the Ninth Circuit, in a published ruling, held that Spain’s state-run Thyssen-Bornemisza Collection is the rightful owner of the painting ‘Rue Saint-Honoré, après-midi, effet de pluie’, a 19th-century piece by the French Impressionist Camille Pissarro, reportedly valued in the tens of millions of dollars. The bench found that, under Spanish law, the museum had acquired title by prescription because it bought the work without knowledge of the theft and possessed it for a sufficient period to obtain ownership, thereby meeting the requirements for acquisitive possession under that legal system. The outcome marks a setback for the California claimant who brought the suit nearly twenty years ago — David Cassirer, great-grandson of Holocaust survivor Lilly Neubauer, from whom the painting was taken as she fled Germany in 1939 — and follows almost two years after the US Supreme Court set aside an earlier judgment in which the Ninth Circuit had likewise favoured the museum. In April 2022, the justices determined that the Ninth Circuit had relied on...

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View the related Practice Notes about NEMO

PRACTICE NOTES
Local Authority Bias, Predetermination and Predisposition: Case Law, Party Whips and the Localism Act 2011 s 25 (England)

This Practice Note reflects the law as it is understood in England. Local authorities and other public bodies owe a general obligation to act fairly. This applies to both process and substance, and stems from the two fundamental rules of natural justice, namely that: no one should be a judge in their own cause (nemo judex in causa sua), and issues are to be decided after hearing from both or all parties involved (audi alteram partem) The modern duty of fairness is a flexible, context‑dependent principle requiring those consulting or making decisions on the public’s behalf to act—and be seen to act—in a way that is demonstrably fair in all the circumstances, and untainted by any actual or perceived personal or other extraneous interest. Public authority decisions affected by actual or apparent bias (a prejudice towards a particular outcome) or by predetermination (where decision‑makers have settled the matter and closed their minds before the decision is formally taken) are, therefore, incompatible with the...

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