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Q&As on REMIT – Question II.4.33.

In a consortium for the purchase of electricity and gas in the energy wholesale market, each associate member owns a share of 0,93% or less. None of these members is: i) able to exercise a significant influence over the management of the market participant through a controlling interest in the consortium or its parent undertaking; ii) entitled to control or exercise control of 10% or more of the voting power in the market participant or its parent undertaking; iii) able to exercise significant influence over the management of the market participant through their voting power in the market participant or its parent undertaking. Who is/are the beneficiary/ultimate controller(s)? How should the corresponding fields (compulsory) in the market participant registration form be filled in?


Answer:

Please note that, where ownership of shares in a market participant is beneficially held by individuals who do not meet ultimate controller criteria, it is unlikely that the market participant will have an ultimate controller and therefore the company itself will be its own ultimate controller and shall be inserted as ultimate controller.

Last update: 31/07/2015   RSS_Icon Subscribe to this Page’s RSS