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Update on Transparency Obligations

Update on Transparency Obligations. Martin Reisner Junior Adviser, Transparency. ENTSOG’s Transparency Workshop. Brussels – 11 September 2012. Content. CMP Background Decision Transparency REMIT Background Obligations Latest activities Challenges. Congestion Management Procedures I.

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Update on Transparency Obligations

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  1. Update on Transparency Obligations Martin Reisner Junior Adviser, Transparency ENTSOG’s Transparency Workshop Brussels – 11 September 2012

  2. Content CMP • Background • Decision • Transparency REMIT • Background • Obligations • Latest activities Challenges

  3. Congestion Management Procedures I Initial proposal from the European Commission in late 2010 EC Stakeholder Workshops and public consultation during 2011 Formal comitology process completed during early 2012 • 2 Gas Committee meetings held in January and April Publication in the Official Journal of the European Union on 24 August 2012 following decision by both Parliament and Council not to oppose adaption: Background

  4. Congestion Management Procedures II ENTSOG has identified 2 parts: • Procedures intended to mitigate contractual congestion • Oversubscription / buy-back scheme • Firm day-ahead use-it-or-lose-it mechanism • Surrender of contracted capacity • Long-term use-it-or-lose-it mechanism • Amending Chapter 3 of Annex I to Regulation (EC) No 715/2009 • Additional information to be published Content of the Commission’s Decision

  5. Congestion Management Procedures III Additional information to be published • occurrence of unsuccessful, legally valid requests for firm capacity products with a duration of one month or longer including the number and volume of the unsuccessful requests • in the case of auctions, where and when firm capacity products with a duration of one month or longer have cleared at prices higher than the reserve price • where and when no firm capacity product with a duration of one month or longer has been offered in the regular allocation process • total capacity made available through the application of the congestion-management procedures laid down in points 2.2.2, 2.2.3, 2.2.4 and 2.2.5 per applied congestion-management procedure Transparency

  6. Congestion Management Procedures VI Information has to by published starting from 1 October 2013… …in a downloadable format that has been agreed between transmission system operators and the national regulatory authorities — on the basis of an opinion on a harmonized format that shall be provided by the Agency — and that allows for quantitative analyses… …on one Union-wide central platform… …established by ENTSOG… …on a cost-efficient basis. Transparency

  7. REMIT I Regulation of the European Parliament and of the Council on wholesale energy market integrity and transparency REMIT covers trading of commodity and financial instruments for financial and non-financial counterparties “Market participants” – including transmission operators – are subject to new reporting obligations regarding commodity trading, e.g. for balancing purposes. Many reporting obligations also refer to storage and LNG regasification data. Due to different interpretation  ACER’s 1st Guidance • Focusing mainly on electricity Background

  8. REMIT II Reporting of inside information • What is an inside information? • How should it be reported and to whom? Publication of transparency information • TSOs: Annex 1 of Reg. 715 (Transparency Guidelines) • Outages / unplanned maintenance has to be published immediately • Is balancing energy or fuel gas subject of inside information? Public Consultation on ‘Registration Format’ • Registration before participating the market • Just once at any NRA • ACER will/can publish a list of market participants Obligations for Market Participants

  9. REMIT III Public Consultation on ‘Records of Transactions’ ENTSOG’s key messages • Data security • Avoidance of Double Reporting • TSOs obligation covered by Reg. 715 ACER Workshop on 19 July Publication of Discussion Paper • 2 Options: • Disclosure of information through (existing) transparency platform (Reg. 715/714) • Nomination of platforms for disclosure by NRAs on a regional/national level ENTSOG’s response • TSOs fulfill obligation by publishing information on ENTSOGs Transparency Platform Latest activities

  10. Future Challenges All TSO fully publish information according to requirements Uncertainties for future development… • …REMIT • …other regulations Reporting to different entities • the same set of data • a different / individual set of data Coordination for higher efficiency is needed • …on a national level • …of obligations due to different regulations

  11. Do you have further questions? Martin ReisnerJunior Adviser, Interoperability/Transparency martin.reisner@entsog.eu

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