Do different economic entities belonging to the same group/corporation (i.e. intra-group entities) have to register within CEREMP themselves? Even if they are not obliged to report?
The obligation to register within CEREMP under Article 9(1) of REMIT applies to market participants (natural or legal persons) entering into transactions which are required to be reported. Within a group of companies, all legal entities who enter into transactions that are required to be reported must register in CEREMP.
Market participants that only enter into intragroup contracts are still required to register, although such contracts are only reportable upon reasoned request of the Agency and on an ad-hoc basis, in line with Article 4 of Commission Implementing Regulation (EU) No 1348/2014.
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.
However, this no-action relief is without prejudice to the obligation to register with the competent NRA as a market participant according to Article 9(1) of REMIT.
Last update: 29/05/2015
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