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The REMIT Portal is up – official documents and no action relief on “data on request”

Today ACER have taken their REMIT portal live. It can be found here.

The portal puts many of the documents related to the reporting of data under REMIT into one place. It also contains the first official version of several REMIT documents, including the Trade Reporting User Manual (TRUM), Manual of Procedures, and requirements (non technical) for RRMs.

In addition there is a letter of no action relief on the items in Article 4(1) of the Implementing Act being requested. Article 4(1) states that the following data does not have to be reported systematically to ACER:

  • Intra-group contracts
  • Contracts for the physical delivery of electricity produced by a single production unit with a capacity equal to or less than 10 MW or by production units with a combined capacity equal to or less than 10MW,
  • Contracts for the physical delivery of natural gas produced by a single natural gas production facility with a production capacity equal to or less than 20 MW
  • Contracts for balancing services in electricity or natural gas.

However the Implementing Act states that this data may be requested on an ad-hoc basis by ACER. In effect this means that although one would not need to report the data in T+1 or T+30 to ACER, you would still need to be able to store it for easy access in case of a request.

The letter states that ACER will not request such data until at least 1st January 2017. By taking this approach ACER not only make their own work more manageable, but also allow Market Participants to focus on meeting the rest of the requirements, which will be welcomed.

It is worth noting though, that local National Regulatory Authorities may still request this data as part of their own investigations.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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