In a small, heavy saucepan, combine the vinegar, wine, shallots and peppercorns. Bring to a boil over high heat, and cook until the reduced to about 1/2 cup in volume, about 10 - 15 minutes.
Season the monkfish lightly on both sides with the Essence and salt. Place 2 slices of bacon on a flat surface. Lay 1 fillet on top, skin-side down, and wrap the bacon completely around the fish. Secure with toothpicks, and set aside.
In a large, heavy skillet, heat the olive oil over medium-high heat. Add the fillets, skin-side down, and cook for 5 minutes on the first side. Turn the fillets and cook for an additional 5 minutes on the second side. Remove the fish to a platter and tent with aluminum foil to keep warm.
Strain the vinegar reduction into a clean saucepan. Bring the wine reduction to a simmer over medium-low heat. Whisk in the butter, one piece at a time, allowing each piece to become completely incorporated before adding the next piece. Season to taste with salt and pepper. Spoon 1 tablespoon of sauce on the bottom of 4 serving plates, and place 1 bacon-wrapped monkfish fillet on top. Spoon the remaining sauce over the fish, and garnish with chopped parsley.
Yield: 4 servings