Inside information

Inside information

What is inside information?

​​​​Under REMIT, information is considered ‘inside information’ if it is:

  • precise in nature;
  • not yet public;
  • directly or indirectly related to wholesale energy products; and
  • likely to significantly affect wholesale energy prices if made public.

Market participants are obliged to disclose inside information and should always inform ACER via web feeds.

Inside information should be disclosed promptly and in a way that enables broad public access. This is why the disclosure of inside information effectively happens through central platforms that aggregate 'urgent messages' from market participants (i.e. inside information platforms (IIPs)). In 2020, ACER started registering IIPs as Regulated Information Services (RISs).

IIPs' web feeds must meet the criteria set out in ACER's REMIT Guidance and Manual of Procedures on data reporting.

 

The main purpose of RIS registration is to provide a public list of IIPs complying with ACER's REMIT Guidance criteria, which can be used by market participants for the effective disclosure of inside information.​