Q&As on REMIT – Question II.4.6.

What if I am a person from the general public who becomes aware of potential market abuse? How can I notify the NRA(s) or the Agency?


Answer:

If you are a member of the general public who became aware of potential market abuse, the Agency and NRAs would like to hear about it. A notification of such potential market abuse may be submitted via the Suspicious Transaction Report (STR) form available at the Agency’s Notification Platform: https://www.acer-remit.eu/np/str.

Alternatively, your national regulatory authority (NRA) may be notified about the suspected breach, via available channels provided by each NRA.

RSS_Icon Last update: 22/10/2018  

Q&As on REMIT – Question II.4.7.

[** Removed **]

RSS_Icon Last update: 22/10/2018  

Q&As on REMIT – Question II.4.20.

[** Merged with Q III.2.24. **]

RSS_Icon Last update: 22/10/2018  

Q&As on REMIT – Question II.4.28.

Concerning Section 5 of the market participant registration form, at what stage should the agreement between a market participant and an RRM be sent to ACER?


Answer:

There is no requirement to send the contracts between a market participant and an RRM to the Agency. However, the Agency may, at any stage of the registration process and during the lifetime of the RRM’s registration with the Agency, request from applicants and existing RRMs any information it deems necessary to assess compliance with the requirements as per Chapter 7 of the Requirements for the registration of Registered Reporting Mechanisms (RRMs) document. This information may include, in particular, the internal documentation, such as an agreement between a market participant and an RRM.

RSS_Icon Last update: 22/10/2018  

Q&As on REMIT – Question II.4.35.

Where I can find if a company is registered as market participant under REMIT?


Answer:

Market participants that enter into transactions which need to be reported to the Agency, shall register with the National Regulatory Authority in the Member State in which they are established or resident or, if they are not established or resident in the Union, in a Member State in which they are active. A market participant shall register only with one National Regulatory Authority.

National Regulatory Authorities shall transmit the information in their national registers to the Agency. Based on that information, the Agency establishes a European register of market participants which is made public under: https://www.acer-remit.eu/portal/european-register. The information available in CEREMP reflects all currently registered market participants.

RSS_Icon Last update: 22/10/2018  

Q&As on REMIT – Question II.4.37.

If a production site of electricity has an installed capacity of 12 MW, self-consumes most of this production, and sells the remaining electricity bilaterally through a contract, is this contract reportable under REMIT and should the contractual entity register and report the data?


Answer:

If a contract for the physical delivery of electricity relates to the single production unit with a capacity above 10 MW (Article 4(1) of Commission Implementing Regulation (EU) No 1348/2014), it should be reported to the Agency and the market participant entering into such contract should register with the relevant National Regulatory Authority in line with Article 9(1) of REMIT. Therefore, in this example, the bilateral contract should be reported and the contractual entity should register with the relevant National Regulatory Authority.

RSS_Icon Last update: 22/10/2018  

Q&As on REMIT – Question II.4.50.

I am a market participant and I am facing issues with my RRM in relation to reporting of my data to the Agency which can result in the potential breach of my reporting obligations under Article 8 of REMIT. Who should I contact?


Answer:

In line with the Agency’s internal procedures, all technical issues in relation to data reporting should be addressed to the Agency’s Central Service Desk by the RRM reporting data on behalf of the market participant. The RRM should apply the ARIS Contingency Plan if necessary. A market participant facing IT issues with its RRM’s data reporting may therefore request the RRM to revert to the ARIS Contingency Plan.

Please note that sanctions for the breach of REMIT provisions are defined and enforced at national level by the relevant NRA, pursuant to Article 18 of REMIT. The relations between the market participant and their respective RRM should be regulated between these entities without the involvement of the Agency, for instance in a form of an agreement. In exceptional cases of a supposed grave misconduct of an RRM, the market participant may inform their NRA.

RSS_Icon Last update: 22/10/2018  

Q&As on REMIT – Question II.4.55.

In line with Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014, market participants shall report details of wholesale energy products executed at an organised market place (the ‘OMP’) […] to the Agency through the OMP concerned. I am a market participant and have a data reporting agreement with the OMP concerned. The OMP concerned has delegated data reporting to a third-party RRM. Is the data reporting agreement with the OMP sufficient in terms of my REMIT transaction reporting obligations?


Answer:

Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014 states that it is the concerned OMP that shall offer a data reporting agreement to the market participant requesting this to the OMP. There is no mention of additional obligations to market participants in this respect.

Regarding the obligation to take reasonable steps to verify the completeness, accuracy and timeliness of the data under Article 11(2) of Commission Implementing Regulation (EU) No 1348/2014, if the OMP concerned selects a third-party RRM and thereby outsources the service for market participants of data reporting according to Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014, it is the OMP concerned that will have to take reasonable steps to verify the completeness, accuracy and timeliness of the data which they submit through third party RRMs. The market participant would be relieved from taking reasonable steps to verify the completeness, accuracy and timeliness of the data to the minimum necessary.

The Agency points out that rights and obligations of market participant and the OMP concerned related to data reporting should be defined in a data reporting agreement between them. In addition, it is the Agency’s understanding that the OMP concerned and its third party RRM have a separate data reporting agreement specifying their responsibilities for the completeness, accuracy and timely submission of data to the Agency.

RSS_Icon Last update: 14/12/2016  

Q&As on REMIT – Question II.4.52.

Do the services provided by a Flexibility Service Provider (FSP) fall under the reporting obligation of Article 8 of REMIT? More specifically, if a customer has a contract with its electricity supplier to provide demand response services (e.g. an interruptible client) not related to balancing services (e.g. on day-ahead basis), does this contract have to be reported under Article 8 of REMIT? If it is the case, could you provide the legal basis?


Answer:

The Agency considers that the contract for the provision of demand response services qualifies as a wholesale energy product pursuant to Article (2)(4)(a) of REMIT and it has to be reported.

Pursuant to Article 3(1)(a)(ii) of Commission Implementing Regulation (EU) No 1348/2014, contracts involving a customer providing demand response services to a supplier and/or an aggregator should be reported on a continuous basis.

Pursuant to Article 4(1)(d) and Articles 2(9) and 2(11) of Commission Implementing Regulation (EU) No 1348/2014, contracts involving a customer providing demand response services to a TSO (i.e. balancing services) are reportable upon reasoned request of the Agency and on an ad-hoc basis. If a supplier or aggregator sells demand response volume they contracted from customers to the TSO, this contract between supplier or aggregator and TSO should be reported upon reasoned request of the Agency on an ad hoc basis.

In addition, please note that the Agency adopted a ‘No-action letter’ to provide time-limited no-action relief from the requirement to report contracts and details of transactions in relation to those contracts listed in Article 4(1) of Commission Implementing Regulation (EU) No 1348/2014 upon reasoned request of the Agency. The No-action letter is available here: https://www.acer-remit.eu/portal/acer-staff-letters-doc.

RSS_Icon Last update: 14/11/2016  

Q&As on REMIT – Question II.4.53.

A gas production facility with a production capacity higher than 20 MW is owned by different shareholders. Each of the shareholders holds a net capacity of less than 20 MW, based on their individual share interests. Each partner in the facility has individual gas sale agreements with third parties. Are these contracts reportable at the request of the Agency pursuant to Article 4(1)(c) of Commission Implementing Regulation (EU) No 1348/2014?


Answer:

Please note that Article 4(1)(c) of Commission Implementing Regulation (EU) No 1348/2014 applies to the contracts for the physical delivery of natural gas produced by a single natural gas production facility with a production capacity equal to or less than 20 MW, unless concluded on organised market places. Therefore, if the production capacity of the single natural gas production facility is above 20 MW, the contracts for the physical delivery of natural gas produced by this single production unit have to be reported on a continuous basis as specified in Article 3 of Commission Implementing Regulation (EU) No 1348/2014.

However, if the production capacity of a single natural gas production facility is equal to or below 20MW, unless concluded on organised market places, the contracts for the physical delivery of natural gas produced by this single production facility are reportable only upon reasoned request of the Agency and on an ad-hoc basis.

In addition, please be informed that the Agency adopted a ‘No-action letter’ to provide time-limited no-action relief from the requirement to report contracts and details of transactions in relation to those contracts listed in Article 4(1) of Commission Implementing Regulation (EU) No 1348/2014 upon reasoned request of the Agency. The No-action letter is available at: https://www.acer-remit.eu/portal/acerstaff-letters-doc.

RSS_Icon Last update: 14/11/2016  

RSS_Icon Subscribe to this Category’s RSS