The second phase of data collection under the EU Regulation on wholesale energy market integrity and transparency (REMIT) started on Thursday 7 April, when the system was opened for the registration of over-the-counter wholesale energy contracts, transportations contracts and additional fundamental data. Since then the Agency for the Cooperation of Energy Regulators (ACER) has received more than 28 million records of wholesale energy market transactions. The Agency, together with the National Regulatory Authorities from the 28 Member States, has been observing the progress of reporting parties in complying with their obligations.
This second phase complements the first phase of data collection of wholesale energy market transactions, including orders to trade, executed at organised market places which started on 7 October 2015.
In the meantime, the Agency has approved 100 Registered Reporting Mechanisms (RRMs) for the reporting of trade and fundamental data. For the second phase of data collection, 67 new reporting parties were registered as RRMs in addition to the 33 RRMs which were already registered for the 1st phase of data collection.
The Agency urges entities with reporting obligations to undertake all necessary steps to be registered as Market Participants with the competent National Regulatory Authority and to select a registered RRM to fulfil their obligations.
5th issue of the REMIT Quarterly published
Read more about the latest developments, including recent updates of the REMIT Reporting User Package in order to further facilitate reporting, in the 5th issue of the REMIT Quarterly covering the period Q1/2016 here.
Specific information about the data reporting requirements can be found on the REMIT Portal and in the REMIT Q&A and FAQs papers, which are updated on a regular basis.