ACER is consulting on revising the Annex of the REMIT Implementing Regulation
What is it about?
On 7 May 2024, the revised REMIT Regulation (Regulation on Wholesale Energy Market Integrity and Transparency) came into force. As part of the process, the European Commission will revise the REMIT Implementing Regulation (which aims to ensure uniform implementation of the legislation across all EU Member States) to define new data reporting requirements by 8 May 2025.
To aid this revision and inform the Commission’s decision process, ACER is launching a public consultation from today until 6 September 2024.
Why is ACER consulting?
Since the introduction of the first REMIT Regulation in 2011, the EU wholesale energy market has undergone significant changes and also witnessed an energy crisis. To enhance protection against market manipulation and to ensure effective market surveillance, amending REMIT has been crucial. The revised REMIT (2024) brought significant changes to data reporting obligations.
Following this revision, ACER has received numerous queries from stakeholders seeking clarification on specific aspects of the REMIT Implementing Regulation, particularly concerning its Annex, which outlines the types of information to be reported to ACER.
To address this topic, ACER is launching a public consultation to gather stakeholders’ input on its proposal on data collection. This proposal is based on:
- New definitions and obligations from the revised REMIT;
- Over ten years of data collection insights; and
- Discussions with National Regulatory Authorities (NRAs) and stakeholders.
The feedback received will help shape ACER’s proposal to the European Commission.
What is the Annex about?
The REMIT Implementing Regulation Annex outlines the types of information that data reporting parties need to provide to ACER to ensure transparency and market integrity in the EU's wholesale energy markets. It is divided into four tables, each specifying the data reporting obligations for:
- Standard contracts for electricity and gas supply (Table 1);
- Non-standard contracts for electricity and gas supply (Table 2);
- Contracts related to electricity transportation (Table 3);
- Contracts related to gas transportation (Table 4).
Have your say!
You have until 6 September 2024 to submit your views.
Based on the feedback received, ACER aims to publish a report evaluating the consultation responses by mid-October 2024.