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08.03.2016 10:40
One Month Ahead: ACER Is Ready for 2nd Phase of REMIT Data Collection
ACER director Alberto Pototschnig expects the agency to have "the full picture" of wholesale energy trading in the EU

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On 7 April 2016, the obligation for market participants to report wholesale energy supply contracts executed over-the-counter, transportation contracts and additional fundamental data under the EU Regulation on Wholesale Energy Integrity and Transparency (REMIT) enters into application.

This 2nd phase of data collection will complement the Agency’s data collection of wholesale energy market transactions, including orders to trade, executed at organised market places and of fundamental data from the European Networks of Transmission System Operators for electricity and gas that began 7 October 2015. In parallel with its effort to register reporting parties as Registered Reporting Mechanisms (RRMs), the Agency has provided a comprehensive set of guidance on transaction and fundamental data reporting. In addition, the Agency will publish further REMIT Q&As and FAQs on transaction and fundamental data reporting as required. Market participants should therefore be well prepared for the second phase of REMIT.

Alberto Pototschnig, Director of ACER, emphasised that “the second phase completes the reporting of trade and fundamental data to the Agency, thus giving us the full picture of trading in wholesale energy markets in the EU. With this information, the Agency will be able to monitor these markets more effectively, to promote their integrity and transparency”.

TAGS: ACER | REMIT | reporting | energy | trading | EU | Europe | data collection | electricity | wholesale | market data 

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