Inside Information Disclosure and Collection

What is inside information?

​​​​Market participants are obliged to disclose inside information and should always inform ACER via web feeds.  ​

REMIT defines “inside information" according to four criteria:

  • It is of a precise nature

  • It is not public yet

  • It relates, directly or indirectly, to one or more wholesale energy products

  • If it was made public, it would likely significantly affect the prices of those wholesale energy products.

Inside information should be di​​​​​sclosed in a manner that enables dissemination to a public as wide as possible. This is why the disclosure of inside information effectively happens through central platforms aggregating urgent messages from market participants (i.e. Inside Information Platforms – IIPs). In 2020, ACER started to register IIPs as Regulated Information Services (RISs).

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The IIPs' web feeds have to meet the criteria set out in ACER's REMIT Guidance  and the Manual of Procedures on data reporting.

The main purpose of RIS registration is to provide a public list of IIPs complying with ACER's REMIT Guidance criteria, which can be used by market participants for the effective disclosure of inside information.​