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The Regulation on wholesale Energy Market Integrity and Transparency (REMIT)

The Regulation on wholesale Energy Market Integrity and Transparency (REMIT). Overview of REMIT. Regulation 1227/2011 Tailor-made regime for wholesale energy markets Prohibits insider trading Requires publication of inside information Prohibits market manipulation

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The Regulation on wholesale Energy Market Integrity and Transparency (REMIT)

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  1. The Regulation on wholesale Energy Market Integrity andTransparency (REMIT)

  2. Overview of REMIT • Regulation 1227/2011 • Tailor-made regime for wholesale energy markets • Prohibits insider trading • Requires publication of inside information • Prohibits market manipulation • Detailed reporting of energy transactions • Registration of energy market participants • ACER to have monitoring and coordination roles

  3. NRAs have to set up the register Adoption of the Implementing Acts “Registration Format” published by ACER Data reporting and monitoring by ACER REMIT Implementation Timeline REMIT dependent Implementing Acts dependent 6 months within 3 months after 6 months 18 months NRA competences implemented into national law December 2011 June 2012 June 2013 ?

  4. NRAs have to set up the register Adoption of the Implementing Acts Data reporting and monitoring by ACER REMIT Implementation Timeline Implementing Acts dependent within 3 months after 6 months t (?) t+3 months t+6 months

  5. REMIT Structure

  6. Next Steps? • ACER Roundtable on REMIT September 23rd • – discussion of pilot project and questions on Registered Reporting Mechanisms • Awaiting Implementing Acts • Obligation on SOs and Market Participants to report to ACER • Do Market Participants want to report themselves or through a central platform?

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