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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.

Last update: 16/02/2016   RSS_Icon Subscribe to this Page’s RSS