ACER have just released a list of full 25 RRMs that are in the process of getting approval for the first REMIT reporting deadline on the 7th October. The press release can be found here, and the list of RRMs can be found here(the link on the press release currently requires a password). The list will aid the navigation of the complex landscape of RRMs and reporting options for the first stage of REMIT reporting.
The press release highlights a few other topics: Over 300 applications for RRM have actually been received, many from market participants. ACER’s assumption is that most of these are for phase 2 only, which encompasses off venue trades. There is a statement welcoming the use of standard agreements for RRM reporting from OMPs, so long as they are RRM neutral and in line with competition law. This is an important point, as the market requires choice and flexibility that serve it best rather than specific commercial enterprises. The statement from ACER is thus most welcome.
The release also talks of the amount of work carried out, but also that some areas are slightly behind schedule, due to the small number of resources that ACER have. ACER been plagued by resource issues for some time, and have had to work hard to keep up with requirements, producing an impressive amount of material given the circumstances. This is likely to become even more challenging in the coming period, and it should not be surprising if more help is requested in order to make life as easy as possible for market participants.