Public Consultation on the Common Schema for the Disclosure of Inside Information

PC_2015_R_03

 

The public consultation process

From 27 May 2015 to 26 June 2015 30 June 2015 the Agency for the Cooperation of Energy Regulators (‘ACER’) is running a public consultation on a common schema for the disclosure of inside information by market participants under the obligation of Article 4 of REMIT.
For that purpose the Agency is publishing a consultation paper providing recommendations on a common minimum standard necessary to ensure fair, effective and transparent communication of information that is likely to significantly affect wholesale energy prices (the ‘Consultation Paper’). The Consultation Paper can be downloaded here:
 
 
The public consultation is intended to collect the views on the proposed common schema from all parties interested in the implementation of REMIT (market participants, platforms for the disclosure of inside information, new service providers, etc.).
 
The Agency invites all interested parties to provide comments on the consultation paper, and particularly to reply to the consultation questions listed in the Consultation Paper, to the following e-mail: Remit.PublicConsultations(at)acer.europa.eu by 26 June 201530 30 June 2015, CoB.
 
Comments are most helpful if they:
 
  • respond to the question stated;
  • indicate the specific question to which the comment relates;
  • contain a clear rationale; and
  • describe any alternatives ACER should consider.
The Agency will make public the number of responses received to this public consultation, the names of the respondents (except those with a valid reason for not having their identity disclosed), and all non-confidential responses. Please clearly and prominently indicate in your response to this public consultation any part you consider as confidential and do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a confidentiality statement applicable for the relevant response.

The consultation paper

 
The purpose of this Consultation Paper is to outline a proposal for the enhancement of the disclosure of inside information by market participants (either directly or indirectly through service providers acting on their behalf).
 
The Agency analysed the current practices for the disclosure of inside information and identified necessary improvements in terms of information content and in the way information is presented. On one hand, REMIT Implementing Regulation defines new details on the publication of inside information and thus the 3rd edition of the ACER Guidance on the application of REMIT (ACER Guidance) needs to be amended accordingly. On the other hand, the actual implementation of the high level requirements included in the ACER Guidance resulted in divergent working practices, such as different nomenclature or units of measurement used. Hence, the Agency intends to provide further details to the requirements outlined in the above mentioned documents in the form of a Manual that establishes procedures, standards and electronic formats and a Guidance Note that will result in a revision of the ACER Guidance.
The aim of ensuring further consistence in the way inside information is published is twofold:
 
  • first of all, a commonly used and understood format for the disclosure of inside information would raise the level of transparency of wholesale energy markets;
  • secondly, using a common format allows stakeholders to collect urgent market messages in an efficient manner.  
To further increase the transparency of wholesale energy markets, to ensure compliance with the Implementing Regulation and to facilitate the collection of inside information, the Agency would like to reinforce the need for a common understanding of the effective disclosure of inside information. The Consultation Paper outlines:
 
  • a proposal for a common schema - set of fields, definitions and list of accepted values – for the disclosure of inside information,
  • a recommendation for the implementation of web-feeds under Article 10(1) of the Implementing Regulation.


  Responses received
  
  
AGGM.pdfAGGM
AIGET.pdfAIGET
BDEW.pdfBDEW
ČEZ.pdfČEZ
CONOCO PHILIPS.pdfCONOCO PHILIPS
EDF GROUP.pdfEDF GROUP
EEX.pdfEEX
EFET.pdfEFET
ELEXON.pdfELEXON
ENAGAS.pdfENAGAS
ENTSO-E.pdfENTSO-E
ENTSOG.pdfENTSOG
EURELECTRIC.pdfEURELECTRIC
EUROPEX.pdfEUROPEX
EUSTREAM.pdfEUSTREAM
GASSCO.pdfGASSCO
GASTERRA.pdfGASTERRA
GAZPROM M and T.pdfGAZPROM M and T
GAZ-SYSTEM - part II.pdfGAZ-SYSTEM - part II
GAZ-SYSTEM.pdfGAZ-SYSTEM
GDF SUEZ ENGIE.pdfGDF SUEZ ENGIE
GIE.pdfGIE
Grupa Azoty Zakłady Azotowe Puławy.pdfGrupa Azoty Zakłady Azotowe Puławy
HETA.pdfHETA
HUPX.pdfHUPX
IBERDROLA.pdfIBERDROLA
IFIEC.pdfIFIEC
INDIVIDUAL.pdfINDIVIDUAL
INTERGEN.pdfINTERGEN
IOGP.pdfIOGP
NOGEPA.pdfNOGEPA
NORD POOL SPOT.pdfNORD POOL SPOT
OESTERREICHS ENERGIE.pdfOESTERREICHS ENERGIE
PGNiG.pdfPGNiG
PRISMA.pdfPRISMA
PSG.pdfPSG
RWE.pdfRWE
SSE.pdfSSE
STATKRAFT ENERGI.pdfSTATKRAFT ENERGI
STATOIL.pdfSTATOIL
SWISSELECTRIC.pdfSWISSELECTRIC
TAURON Polska Energia.pdfTAURON Polska Energia
TENNET TSO.pdfTENNET TSO
TOTAL.pdfTOTAL
UPM.pdfUPM
VIESGO.pdfVIESGO
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