​During the data collection stage, data is inserted into the ACER's REMIT Information System (ARIS), where the validation rules are applied to the data. 

T​here are two levels of data validation: the first is performed on a technical level, while the second, more in-depth, is managed at the database level. Here, integrity checks are undertaken across the reported and reference data. Any invalid data is rejected and flagged.

Data validation ensures the quality of the collected data, so they can be stored in ACER's REMIT database. ​

​The data quality assessment stage applies other methods to confirm the quality of the data and ensures a timely follow-up.

Non-compliant data at either stage can lead to the enforcement of Article 8 of REMIT. ACER seeks to solve any data quality issues by cooperating with reporting parties, but enforcement action will be initiated if necessary.​

​​

​The data collection process started on 7 October 2015, following this implementation timeline:

• • Adoption of REMIT (25 Oct 2011)

  • Adoption of REMIT Implementing Regulation (17 Dec 2014)

  • Entry into force of REMIT Implementing Regulation (7 Jan 2015)

  • Start of RRM registration (8 Jan 2015) with publications of Manual of Procedures on Data Reporting, RRM requirements, List of OMPs and TRU​M

  • Start of MP registration (17 Mar 2015) with publications of European Register of Market Participants and List of Standard Contracts

  • Start of data collection of OMP contracts and ENTSO’s fundamental data (7 Oct 2015)

  • End of backloading of outstanding OMP contracts (5 Jan 2016)

  • Start of data collection of all reportable trade and all fundamental data (7 Apr 2016)

  • End of backloading of outstanding OTC standard, OTC non-standard and transportation contracts (6 Jul 2016)

  • ​Start of collection of inside information web feeds (2017).​​

Since January 2015, ACER has been regularly publishing and updating three reference data lists:

• List of Organised Market Places

• List of contracts offered to trading by Organised Market Places - standard contracts

• Lis​t of approved Registered Reporting Mechanisms (RRMs)​

Periodic updates on the data collection process are provided in the REMIT Quarterly publication.

​Academics and researchers can participate in the work of ACER in several ways:

• as members and experts of ACER's ad hoc expert groups

• as seconded national experts

• as short-term visiting experts

• by contributing to ACER's public consultations

• by taking part in ACER's conferences and workshops

• by proposing REMIT data research projects for scientific purposes, subject to confidentiality requirements​​​
   

ACER is working to make non-sensitive data available for scientific purposes to further expand its collaboration with academia and contribute to effective knowledge sharing.​

​Since 2012, there have been seven other ad hoc REMIT expert groups which were established and discontinued after the expiration of their terms:

• Expert Group on REMIT implementation measures

• Expert Group on wholesale energy market surveillance

• IT Expert Group

• Ad hoc Expe​rt Group on REMIT

• ​Ad hoc Expert Grou​​​​p on energy commodity derivatives​​​​

• REMIT expert group on wholesale energy market trading ​

• Second REMIT expert group on wholesale energy market trading

​Roundtable meetings

​To discuss the views and practices of the reporting parties on REMIT data collection, ACER regularly organises Roundtable meetings in Ljubljana. These meetings are attended by: 

-          Associations of energy market participants (AEMPs)​

AEMPs represent registered market participants in communication with ACER during Roundtable meetings.

-          Inside information platforms (IIPs)​

IIPs enable market participants to share inside information with the wider public, in accordance with the minimum quality requirements listed in the ACER Guidance.

-          Organised market places (OMPs)​

OMPs include electricity and gas exchanges, brokers and other persons professionally arranging transactions, and trading venues.

-          RRMs​ 

RRMs represent all registered reporting entities, and include market participants, OMPs, ENTSOs, and third party reporting on behalf of entities under the data reporting obligation. ​​

Webinars

​To dynamically address any operational topics and ad hoc issues the reporting parties may be facing, ACER also holds periodic webinars with RRMs and OMPs.

These webinars are organised on ad-hoc basis, and the attendees can propose discussion topics via dedicated forms.

​Public consultations

ACER regularly launches public cons​ultations​ to invite all interested parties to provide their views on specific data collection issues.

Access ACER closed public co​​nsultations​.

​ACER Working Groups are established based on a Direc​​​tor's Decision​ and can advise on the Agency's regulatory activities. They are composed of representatives from ACER, from NRAs, and from the European Commission.

To facilitate knowledge sharing and support the NRAs in the implementation of REMIT, ACER has established dedicated working groups, committees and task forces:

• ​ACER REMIT Committee

The ACER REMIT Committee (ARC) convenes on a quarterly basis.

There are currently two REMIT task forces reporting to the ARC. Task forces (TF) are informal, ad hoc groups, set up by the ACER Working Groups Chairs to provide expert support on specific topics.

• REMIT Policy Task Force (RP TF)

Provides guidance to the NRAs on the application of REMIT policies and monitors the NRAs' progress. Convenes approx. five times a year.

The following committees report to the ARC:

• Market Data Standing Committee (MD SC)

Focuses on the analysis of REMIT data collected via the data reporting process and the improvement of data quality. The MD SC convenes on a quarterly basis.

• Market Coupling Project Team (MC PT)

Focuses on the efficient integration of market coupling data in the data reporting process. The MC PT convenes virtually on a biweekly basis.

• Market Monitoring Standing Committee (MM SC)

Provides a forum to debate the application of REMIT to specific market abuse cases, on the surveillance of wholesale energy markets and the coordination on REMIT cases. Convenes approx. 5 times per year.

• REMIT Information Security Implementation Group (RISIG)

Provides support, advice and coordination on the definition and implementation of ACER's REMIT information security policy. Convenes on a quarterly basis and carries out, upon request, ad hoc peer reviews of NRAs' compliance with the policy.​

• ARIS NRA User Group (ANUG)

Provides support to the end users of ACER's REMIT Information System (ARIS). Convenes virtually on a bimonthly basis.

​Events

To further enhance interaction and exchange of ideas, ACER has been holding its annual Energy Market Integrity and Transparency (EMIT) Forum each September/October in Ljubljana since 2017. The event is attended by policy experts from the Member States, energy traders and consumers, transmission system organisations and NRAs.

ACER periodically meets with energy exchange surveillance technical experts and financial authorities via the Market Surveillance Forum (MSF) and the Energy Trading Enforcement Forum (ETEF).

ACER also regularly cooperates with the European​ Securities and Markets Authority (ESMA), the competent financial market authorities of the Member States and, where appropriate, national competition authorities. ACER also engages in international cooperation.

Memorandums of Understanding (MoUs)

The scope and practical terms of implementing the cooperation foreseen in REMIT is defined in a Memorandum of Understanding (MoU).

ACER has signed MoUs with NRAs, ESMA, organised market places (OMPs), and the US Federal Energy Regulatory Commission (FERC).

Whilst the MoU with the NRAs is a multilateral one, the MoUs with organised market places are bilateral. This allows organised market places to set out the content and procedures for the cooperation on more specific issues related to market monitoring under REMIT. ACER had signed MoUs with eight organised market places across the European Union.  ​