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Q&As on REMIT – Question III.2.40.

What happens if an RRM cannot send transaction reports on time?


Answer:

The Agency has established the ARIS Contingency Plan which is available to RRMs in the documentation section of the RRM Admin Profile. The Contingency Plan provides all instructions on what RRMs and market participants have to do in case of different scenarios that may impact the reporting.

As for the other obligations between the market participant and its RRM, the Agency points out that their data reporting agreement should take into account the ARIS Contingency Plan. Please note that if an RRM is not able to report its data according to the requirements set out by the Agency, the ARIS Contingency Plan is to be followed.

Potential sanctions for the breach of reporting obligations as laid down in Article 8 of REMIT are defined at national level.

All questions about the application of the Contingency Plan should be addressed to the Agency’s Central Service Desk: servicedesk@support.acer-remit.eu.

RSS_Icon Last update: 22/10/2018  

Q&As on REMIT – Question III.2.41.

What happens if the reporting data are different between buyer and seller?


Answer:

The data should be reported to the Agency following the normal procedure as defined by the respective documentation available on the REMIT Portal. However, ACER may request from RRMs to investigate and correct such submissions, if necessary.

RSS_Icon Last update: 16/02/2016  

Q&As on REMIT – Question III.2.42.

What is the reporting procedure during force majeure, either declared by the RRM or by the market participant?


Answer:

The Agency has established the ARIS Contingency Plan which is available to RRMs in the documentation section of the RRM Admin Profile. The Contingency Plan provides all instructions on what RRMs and market participants have to do in case of different scenarios that may impact the reporting.

As for the other obligations between the market participant and its RRM, the Agency points out that their data reporting agreement should take into account the ARIS Contingency Plan.

RSS_Icon Last update: 16/02/2016  

Q&As on REMIT – Question III.2.43.

If a market participant delegates reporting of transactions executed at an organised market place to a third party RRM, is the organised market place obliged to send data to this third party RRM in the ACER xml schema as defined by the Agency?


Answer:

In case the market participant delegates reporting of transactions executed at an organised market place to a third party RRM, the Organised Market Place is not legally required to send the data to this third party RRM in the ACER xml schema as defined by the Agency.

The details of reporting between the organised market place concerned and the third party RRM reporting to the Agency on behalf of the market participant should be determined in a data reporting agreement between the relevant parties.

However, the Agency points out that the third party RRM has the obligation to report the market participant’s data executed at an organised market place in the relevant ACER xml schema as defined by the Agency.

Finally, please note that pursuant to Article 11(2) of Commission Implementing Regulation (EU) No 1348/2014, persons required to report data shall have the responsibility for the completeness, accuracy and timely submission of data to the Agency. If the persons required to report data reports those data through a third party, the third party is responsible for the failures in the completeness, accuracy or timely submission of the data attributable to a third party.

Persons required to report data shall nevertheless take reasonable steps to verify the completeness, accuracy and timeliness of the data which they submit through the third party.

RSS_Icon Last update: 16/02/2016  

Q&As on REMIT – Question III.2.44.

Reasonable steps that a market participant has to undertake are stipulated in Article 11(2), third subparagraph, of Commission Implementing Regulation (EU) No 1348/2014 in order to verify the completeness, accuracy and timeliness of data which they submit through third parties to the Agency. Do these reasonable steps differ depending on the reporting channel that the market participant selects – i.e. OMP, RRM, etc.?


Answer:

The Agency’s understanding is that the only reporting channels for transactions executed at organised market places, including matched and unmatched orders under Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014, are the organised market places concerned, trade matching and trade reporting systems.

The aim of the limitation to the above-mentioned three reporting channels for reporting under Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014 is to ease the reporting for the market participants as specified in Recital 5 of Commission Implementing Regulation (EU) No 1348/2014: ‘’Since market participants cannot be expected to record such data with ease, matched and unmatched orders should be reported through the organised market place where they were placed or through third parties who are able to provide such information’’.

Taking into consideration Recital 5, it seems that the organised market place concerned and/or market participants can choose another organised market place, a trade matching and/or a trade reporting system, i.e. a third-party Registered Reporting Mechanism (RRM), to report data under Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014.

In the registration of market participants through NRAs, the reporting through the organised market place concerned is considered as the default solution for reporting of records of transactions, including orders to trade, to the Agency, according to Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014. This is based on the underlying principle of the REMIT reporting regime set in Article 8 of REMIT that the reporting obligations on market participants shall be minimised by collecting the required information or parts thereof from existing sources where possible.

As a consequence of data collection according to Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014 from organised market places as existing sources, the Agency believes that this will ensure a high degree of data quality.

Against this background, the reasonable steps a market participant shall take to verify the completeness, accuracy and timeliness of the data, which they submit through third parties, have to be distinguished depending on the reporting channel selected:

a) Reporting of wholesale energy products through the organised market place where the transactions were executed or the orders to trade were placed (‘organised market place concerned’):

The organised market place concerned, as an RRM, will have responsibility for the completeness, accuracy and timely submission of the data to the Agency according to Article 11(2) of Commission Implementing Regulation (EU) No 1348/2014 itself. Since the organised market place concerned is the existing source, it is difficult to imagine any additional steps market participants could take to verify the completeness, accuracy and timeliness of the data which they submit through the organised market place concerned. Accordingly, the market participant selecting the organised market place concerned for data reporting according to Article 6(1) of Commission Implementing Regulation (EU) No 1348/2014 will be relieved from taking reasonable steps to verify the completeness, accuracy and timeliness of the data which organised market places concerned submit as RRMs on their behalf to the Agency to the minimum necessary.

b) Reporting of wholesale energy products through a third-party RRM selected by the organised market place concerned:

The same as above applies if the organised market place 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 to the Agency. Since the organised market place concerned is the existing source, it is the organised market place 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 again be relieved from taking reasonable steps to verify the completeness, accuracy and timeliness of the data which organised market places concerned submit as RRMs on their behalf to the Agency to the minimum necessary.

c) Reporting of wholesale energy products through a third-party RRM other than the organised market place concerned selected by the market participant (i.e. another organised market place, trade matching or trade reporting system):

Firstly, it is important to note that such third-party RRM must be able to provide the complete data set to the Agency i.e. to report all data fields, e.g. Contract IDs, as defined by Commission Implementing Regulation (EU) No 1348/2014, and as explained in detail in the Agency’s REMIT Reporting User Package. If this is not the case, the Agency will give a warning to the RRM reporting incomplete data in line with the rules laid down in the RRM Requirements document. Furthermore, if adequate data quality standards and/or compliance with RRM requirements are still not met within the time-frame indicated in the warning, the Agency may, after a certain period of time, which shall not be shorter than six months, discontinue access to the ARIS system for the RRM concerned and inform the market participants affected by the RRM’s non-compliance.

In addition, if the market participant chooses to report its transactions executed at organised market place not through the organised market place concerned, but through a third-party RRM selected by the market participant (i.e. another organised market place, trade matching or trade reporting system), the Agency points out that the market participant will have to ensure the following in order to comply with its obligation to take reasonable steps in order to verify the completeness, accuracy and timeliness of the data which it submits through the third-party RRM to the Agency:

Whilst the organised market place concerned will still be responsible for the completeness and accuracy of the relevant source data, the market participant will be responsible for accuracy, completeness and timeliness of the data concerning (1) the transfer of the data from the organised market place concerned to the third-party RRM selected by the market participant, (2) the handling of the data by the third-party RRM and (3) the transfer of the data from the third-party RRM to the Agency. Both transfers entail a significant risk to undermine the completeness, accuracy and/or timely submission of data to the Agency. Regarding the transfer of the data from the third-party RRM to the Agency, the market participant will not be responsible for failures in the completeness, accuracy or timely submission of the data in cases where these failures are clearly attributable to the respective third party. Nevertheless, the market participants will have to prove to National Regulatory Authorities, on their request, that they have undertaken reasonable steps to verify the completeness, accuracy and timeliness of the data submitted to the Agency.

RSS_Icon Last update: 16/02/2016  

Q&As on REMIT – Question III.2.45.

Can organised market places limit their responsibilities according to Article 11(2) of Commission Implementing Regulation (EU) No 1348/2014 and contractually delegate their responsibilities to the market participants concerning the completeness, accuracy, and timeliness of data to be submitted to the Agency according to Article 6(1) of the said regulation?


Answer:

Article 11(2) of Commission Implementing Regulation (EU) No 1348/2014 stipulates that persons required to report data referred to in Articles 6, 8 and 9 shall have the responsibility for the completeness, accuracy and timely submission of data to the Agency and, where required, to national regulatory authorities. Where a person required to report data reports data through a third party, then the person shall not be responsible for failures in the completeness, accuracy or timely submission of data which are attributable to the third party. In those cases, the third party shall be responsible for failures, without prejudice to Articles 4 and 18 of Regulation (EC) No 543/2013 on submission of data in electricity markets.

Accordingly, should an organised market place offer a data reporting agreement according to Article 6(1), second subparagraph, of Commission Implementing Regulation (EU) No 1348/2014, to a market participant, it will not be possible to limit the responsibility, with such a data reporting agreement, of the organised market place concerned being a third party for the reporting of data in the meaning of Article 11(2), second subparagraph, of Commission Implementing Regulation (EU) No 1348/2014. Any such contractual delegation of responsibilities from an organised market place to a market participant would be in breach of a directly applicable EU regulation and therefore illegal.

RSS_Icon Last update: 16/02/2016  

Q&As on REMIT – Question III.2.46.

Will TSOs be visible in Section 5 of the registration form in order for market participants to be able to select them?


Answer:

Only TSOs selecting the below RRM types will be visible in Section 5 of the registration form:

(i) ‘RRM type: MP reporting for the group’ under the stage: Additional Information Submission; or

(ii) ‘RRM type: RRM services available to any market participant’ under the stage: Additional Information Submission.

RSS_Icon Last update: 24/03/2016  

Q&As on REMIT – Question III.2.47.

A holding, which is not itself a market participant, owns several entities that are renewable energy producers and thus are registered as market participants under REMIT. These renewable producers are only legal entities and do not have any employees. One of them will register as RRM and report data on behalf of the other market participants within the holding (intra group RRM). How should the intra group RRM fill in the documents required during the RRM registration process and who bears the legal responsibility for the data reporting?


Answer:

As a general principle, the legal responsibility for data reporting is with the market participant. Therefore, if a market participant decides to delegate the data reporting to an RRM, Article 11(2) of Commission Implementing Regulations applies. It specifies how the responsibility for the reporting is divided between a market participant and an RRM.

If an intra group RRM applicant does not have any employees, it should clearly indicate who has the RRM Administrator and RRM Compliance roles in all documents which are submitted during the RRM registration process (e.g. RRM Application Form, Power of Attorney or Non-Disclosure Declaration).

RSS_Icon Last update: 29/04/2016  

Q&As on REMIT – Question III.2.48.

If I am an already approved RRM or an RRM applicant in the registration process and would like to ask a question about the application of the Contingency Plan, who should I contact?


Answer:

All questions about the application of the Contingency Plan should be addressed to the Agency’s Central Service Desk: servicedesk@support.acer-remit.eu.

RSS_Icon Last update: 29/04/2016  

Q&As on REMIT – Question III.2.49.

[** Question number changed from Q III.8.4. **]

In which language have the documents to be submitted in the RRM application process, in the official language of the issuer of the document or in English?


Answer:

According to Article 33(1) of Regulation (EU) No 713/2009 establishing an Agency for the Cooperation of Energy Regulators, and Regulation 1/1958 determining the languages to be used in the EU, documents can be submitted in any official language of the EU.

However, Article 33(2) of Regulation (EU) No 713/2009 also provides that the Agency’s Administrative Board shall decide on the internal language arrangements for the Agency and the Administrative Board decided that the internal working language of the Agency is English. Therefore, the working language for the examination of RRM applications by the Agency will be English. In this respect, the Agency strongly prefers to receive documentation in English, and the RRM applicant is thus invited to send its application in English as translating documents submitted in other EU languages may require additional time to process the application.

RSS_Icon Last update: 22/10/2018  

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