ACER updates REMIT guidance to improve reporting of LNG supply contracts and Power Purchase Agreements

Managing data

ACER updates REMIT guidance to improve reporting of LNG supply contracts and Power Purchase Agreements

What is it about?

Following an extensive consultation with stakeholders on improving REMIT data reporting, ACER publishes today the updated:

  • Transaction Reporting User Manual (TRUM) and its Annexes; and
  • FAQs on REMIT transaction reporting.

In autumn 2023, ACER organised online roundtable meetings on REMIT transaction reporting and consulted with the Associations of Market Participants (AEMPs), Organised Market Places (OMPs) and Registered Reporting Mechanisms (RRMs).

With the updated guidance documents, ACER aims to further improve data reporting under REMIT to ensure the integrity and transparency of the European energy markets.

What’s new in the TRUM and its Annexes?

The amendments mainly focus on providing guidance on the reporting of transactions related to liquified natural gas (LNG), Power Purchase Agreements (PPAs), and reliability options. The new Annex VIII to the TRUM has been introduced to further facilitate the reporting of LNG supply contracts under REMIT.

As a result of the consultation process, the updated TRUM introduces inter alia:

  • New contract types applicable for the reporting standard and non-standard contracts related to PPAs and LNG; and
  • LNG as a new energy commodity.

What else?

  • Annex II: new examples of spot-type LNG transactions and non-standard contracts on reliability options.
  • Annex IV: additional clarification on the reporting of the Unique Transaction Identifier (UTI) and Contract ID in relation to transactions concluded bilaterally.
  • Annex VI: references to discontinued exercises have been removed.
  • New Annex VIII: details the different types of contracts related to LNG and how to report them.

What’s new in the FAQs on REMIT transaction reporting?

Intended to provide guidance and clarifications on transaction reporting scenarios, the 16th edition of the FAQ document includes:

  • guidance on the reporting of transactions related to local flexibility products; and
  • clarifications on the reporting of gas transportation contracts related to capacity conversion and capacity upgrade.

What are the next steps?

Reporting parties are expected to comply with the updated transaction reporting guidance within 6 months of its publication on the ACER website.

The reporting of the new values (i.e. energy commodity and contract types) will start after ACER and RRMs carry out the technical implementation, as the new data fields require updates in the REMITTable1 and REMITTable2 electronic formats.

To ensure a smooth and timely process, ACER will coordinate with the RRMs through the established channels and inform stakeholders in due time when the reporting of the new values starts.

All documents are available in the REMIT Knowledge Base.