II.4.3.

What is the obligation to disclose inside information?

Answer: According to the general obligation under Article 4(1) of REMIT, market participants shall publicly disclose in an effective and timely manner inside information which they possess in respect of business or facilities which the market participant concerned, or its parent undertaking or related undertaking, owns or controls or for whose operational matters that market participant or undertaking is responsible, either in whole or in part.

Such disclosure shall include information relevant to the capacity and use of facilities for production, storage, consumption or transmission of electricity, hydrogen or natural gas or related to the capacity and use of LNG facilities, including planned or unplanned unavailability of these facilities. In its Guidance on the application of REMIT, the Agency provides its understanding of the notions of effective and timely public disclosure of inside information. 

Market participants shall disclose the inside information through IIPs which have been authorized by ACER in accordance with Article 4a of REMIT. The IIPs shall ensure that the inside information is made public in a manner which enables prompt access to that information, including through a website or a clear application programming interface, and a complete, correct and timely assessment of that information by the public. The IIP shall maintain adequate resources and shall have back-up facilities in place in order to offer and maintain its services. Market participants may, only in addition, continue to use other channels, including market participants’ websites, to disclose inside information.

Please note that, by 8 May 2025, the Commission shall adopt a delegated act on the authorisation and supervision of inside information platforms which may affect the answer to this question.