If a market participant is short or long relative to their notified position to the TSO, they will be exposed to the cash out price. For example, if they ‘spill’ additional electricity onto the network, the market participant receives the cash out price for this electricity. Is this a reportable contract under REMIT?
Yes, but it is the Agency’s current view that such payments are part of the process for balancing and would fall under Article 4(1)(d) of Commission Implementing Regulation (EU) No 1348/2014 and are only reportable upon reasoned request of the Agency on an ad-hoc basis. In addition, please note that the Market Monitoring Department of 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/acerstaff-letters-doc.
Last update: 16/02/2016
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