The Agency completed on 7 October 2016 one full year of data collection under the EU Regulation on Wholesale Energy Integrity and Transparency (REMIT). On this occasion the Agency is publishing the REMIT Annual Report 2016 for the Agency’s REMIT activities during 2015, as well as a new edition of the REMIT Quarterly, with the most recent updates on REMIT-related matters.
The Agency is currently receiving more than 1m records of transactions, including orders to trade, on average per day and more than 35m records per month. This considerably exceeds the prudent estimates made before data collection began. The Agency notes that a high number of transactions in all likelihood reflects liquid and competitive markets. However, it also poses an additional challenge to the Agency.
The Agency now receives the information it needs in order to monitor the market efficiently. Using the reported data, the Agency can detect and deter market manipulation and trading based on inside information. In the longer run, this will enhance market integrity and transparency for the benefit of European energy consumers and citizens.