Q&As on REMIT – Question II.4.41.

Our company entered into a Winter 2015-16 contract in June 2015 which we understand needs to be backloaded to the Agency. Do we need to register with our national regulatory authority?


Answer:

Yes. While the contract was concluded before the start of transaction reporting and it remains outstanding at the start of transaction reporting, it has become a reportable contract. Pursuant to Article 7(6) of Commission Implementing Regulation (EU) No 1348/2014, the outstanding contract has to be reported within 90 days of the applicable reporting day.

The market participants should have registered with the relevant national regulatory authority within 90 days following the go-live on 7 October 2015, i.e. by 6 January 2016 at the latest and in any case prior to the reporting of the backloaded contract to the Agency. In order to facilitate the registration and reporting processes, the Agency advises the market participants to register well in advance of reporting of their outstanding contracts.

RSS_Icon Last update: 30/10/2015  

Q&As on REMIT – Question II.4.42.

Is there any record keeping obligation on market participants beyond what is already required from RRMs? If so, please clarify the exact scope, e.g. period of record keeping?


Answer:

As for the record keeping obligations by market participants, please note that the obligation on record keeping as laid down in the RRM Requirements document applies only to the RRMs. However, there can be other obligations arising from national or other applicable legislation that the market participants may want to consider for their overall compliance.

RSS_Icon Last update: 08/01/2016  

Q&As on REMIT – Question II.4.43.

I am no longer a REMIT market participant with a reporting obligation and will not enter into any further wholesale energy transactions pursuant to REMIT. Can I de-register from the National Register of market participants?


Answer:

Should a market participant no longer enter into reportable transactions and should its reporting obligations pursuant to REMIT and Commission Implementing Regulation (EU) No 1348/2014 have been completely fulfilled (i.e. its contracts have been delivered and are no longer valid), the market participant can request the relevant NRA to delete its registration from the National Register of market participants.

RSS_Icon Last update: 16/02/2016  

Q&As on REMIT – Question II.4.44.

What obligations does a market participant have under REMIT if the market participant owns or controls multiple sites as a single economic entity, each of which has a consumption capacity less than 600GWh, but which have a total technical capability to consume 600GWh or more?


Answer:

Pursuant to Article 2(4) of REMIT, any contract for the supply and distribution of electricity or natural gas to such a final customer is considered as a wholesale energy product, so the final customer entering into these contracts is a market participant.

In this example there is no obligation for the market participant to report contracts for the supply of energy to its consumption sites. The final customer contracts that are reportable to the Agency are those under Article 3(1) (a) (vii) of Commission Implementing Regulation (EU) No 1348/2014 where the contract is for the supply to a single consumption unit with a technical capability to consume of 600GWh/year or more, or the market participant trades these contracts on an organised market place, or the market participant enters into sale contracts outside an organised market place.

In the case where the market participant only buys these contracts for consumption outside an organised market place, the market participant will not have to register with the relevant NRA as the market participant is not entering into transactions which are required to be reported to the Agency in accordance with Article 8(1) of REMIT. However, such a final customer as a market participant is still subject to REMIT, including the obligation to publish inside information according to Article 4 of REMIT and the prohibition of market manipulation, including attempted market manipulation, according to Article 5 of REMIT.

RSS_Icon Last update: 16/02/2016  

Q&As on REMIT – Question II.4.45.

In case a market participant, which is trading at several organised market places, wants to have a consolidated view of all records of transactions, including orders to trade, how can this be achieved other than reporting through one single RRM?


Answer:

Rather than selecting one single third-party RRM for their reporting services to the Agency, market participants could benefit from the above-mentioned relief of taking reasonable steps if reporting through organised market places, as an RRM, or through a third-party RRM selected by the organised market place concerned. Since RRMs are obliged, under the Agency’s RRM requirements, to share all data reported to the Agency with the market participant on their request, the market participant could choose one single third-party entity to collect any such already reported records of transactions, including orders to trade, from the various organised market places concerned in one consolidated way. This would also enable the market participant to report any life-cycle events through such single third-party entity and would enable them to build on the relevant reference IDs from the reports provided by the organised market place concerned to the Agency. Thus, with all necessary information from the organised market place concerned being provided through the single third-party entity, the reporting of lifecycle events can be linked to the originally reported information from the organised market place concerned. This can also include the information on the third party beneficiary.

Accordingly, for compliance purposes, the market participant may select a third party to collect all information reported by its different organised market places as RRMs in order to monitor the reported data through one single tool. But such compliance monitoring tool should not be confused with changing the reporting channel to the Agency.

As described above, the Agency believes that the reporting of organised market place data through the organised market place concerned, or through a third-party RRM selected by the organised market place concerned, is the best way to ensure the necessary completeness, accuracy, timeliness and data quality for market monitoring purposes (‘single order book’) and the market participant is relieved from taking further steps necessary in order to verify completeness, accuracy and timeliness of the data submitted to the Agency to a minimum necessary.

RSS_Icon Last update: 16/02/2016  

Q&As on REMIT – Question II.4.46.

Is an operator of a refuelling station of natural gas for vehicles obliged to register in CEREMP?


Answer:

ACER’s view is that the provision of fuel to individual vehicles at a retail level is not a contract for the supply of energy in the scope of REMIT.

If an operator of a refuelling station of natural gas for vehicles enters only into a bilateral contract for the supply of natural gas for its refuelling station, it is obliged to register with its national regulatory authority only if this contract meets the criteria of Article 3(1)(a)(vii) of Commission Implementing Regulation (EU) No 1348/2014. However, if the operator of a refuelling station of natural gas for vehicles enters into other reportable contracts listed in Article 3(1) of Commission Implementing Regulation (EU) No 1348/2014 (e.g. including but not limited to contracts for the supply of energy traded on an organised market place or derivative contracts), then it is obliged to register with the relevant National Regulatory Authority.

RSS_Icon Last update: 24/03/2016  

Q&As on REMIT – Question II.4.47.

I am a market participant with reporting obligations pursuant to Article 8(1) of REMIT. However, I failed to register with the NRA of the Member State in which I am established before 7 April 2016 when the reporting obligations started. What should my actions be?


Answer:

In accordance with Article 9(1) of REMIT, market participants entering into transactions which are required to be reported to the Agency in accordance with Article 8(1) of REMIT are obliged to register with the NRA in the Member State in which they are established or resident or, if they are not established or resident in the EU, in a Member State in which they are active.

For market participants entering into transactions on an organised market place, the registration obligation takes effect, at the latest, prior to entering into such transaction which is required to be reported to the Agency as of 7 October 2015. For all other market participants, the registration obligation takes effect, at the latest, prior to entering into transactions which are required to be reported to the Agency as of 7 April 2016. This means market participants shall submit their registration form to the relevant NRA prior to the first day on which they enter into transactions which are required to be reported to the Agency.

Consequently, the Agency considers that any person who enters into a transaction which is required to be reported to the Agency as of 7 October 2015 or as of 7 April 2016, and without having submitted the registration form to the relevant NRA, is in breach of Article 9 of REMIT. Sanctions for the breach of REMIT provisions are defined and enforced at national level, pursuant to Article 18 of REMIT.

RSS_Icon Last update: 08/06/2016  

Q&As on REMIT – Question II.4.48.

Company ‘A’ from Member State X creates a branch office (‘BO’) in Member State Y. The BO obtains a licence to operate in Member State Y and Member State Z (licence is in the name of BO, not A). The BO is still the same legal entity as the mother company A, however, BO and A hold two distinct energy licences granted by the NRA. The BO operates in Member State Y and Member State Z and is an interface towards the NRAs and TSOs in these Member States. However, at the same time, A is the counterparty to all BO’s framework agreements. Which entity should register as a market participant under Article 9(1) of REMIT: (i) company A, (ii) BO or (iii) both companies A and BO?

qas-on-remit-question-ii-4-48_figure


Answer:

The obligation to register with the relevant NRA under Article 9(1) of REMIT applies to market participants (natural or legal persons) entering into transactions which are required to be reported pursuant to Article 8(1) of REMIT. Within a group of companies, all legal entities who enter into transactions that are required to be reported must register with the relevant NRA(s). In the present case, provided that the company A is always party to the contract used by the BO, only the company A has an obligation to register with the relevant NRA pursuant to Article 9(1) of REMIT.

RSS_Icon Last update: 31/08/2016  

Q&As on REMIT – Question II.4.49.

I am a REMIT market participant and I have a question in relation to my registration in the national register of REMIT market participants. Who should I contact?


Answer:

The registration of market participants is done on a national level. The Agency does not provide direct support to market participants for questions related to their registration in the national register of REMIT market participants. Market participants who have questions in relation to their registration, e.g. change/expiration of password, how to receive the ACER code, etc. should contact their relevant NRA. The contact details are available at: https://www.acer-remit.eu/portal/ceremp.

RSS_Icon Last update: 31/08/2016  

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  

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