ACER seeks more consistency in REMIT reporting

Its new consultation paper proposes further standardisation of wholesale energy transaction reporting procedures

29 mai 2015 à 16h18

Énergie

The EU energy regulatory agency ACER has launched a review of some of the implementing rules under the regulation on wholesale energy market integrity and transparency (REMIT) with the aim of further standardising transaction data reporting by market participants.

ACER said market participants had struggled with the implementation of REMIT's requirements to disclose inside information, which has lead to inconsistent reporting practices. Therefore the consultation paper provides further details on ACER's earlier implementation guidance with a new manual outlining standard…

Deadlines

From 7 October, all energy companies will be required to report their standard physical power and gas trades to ACER either directly or through a registered reporting mechanism (RRM). The reporting of more complex over-the-counter transactions will commence six months later. REMIT has caused problems for energy firms with little experience in reporting, according to a recent survey by Trayport, the energy unit of inter-dealer broker GFI Group. The survey found that “data collection risk is the key issue” for energy firms ahead of the October deadline.

ACER seeks more consistency in REMIT reporting

Deadlines

15 days with no commitment, no credit card required.

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