ACER: new information on data quality
The Agency for the Cooperation of Energy Regulators (ACER) has published a third open letter on REMIT data reporting issues.
ACER's third letter on REMIT data quality, published on 26 July 2019, addresses all parties with data reporting obligations under REMIT, in particular Organised Market Places, Market Participants and Registered Reporting Mechanisms. ACER informs with this letter that the Agency continues to conduct regular assessments of the completeness, accuracy and timely submission of the data received under REMIT. Additionally, ACER wants to intensify information exchange between ACER and reporting parties in order to further improve data reporting under REMIT. Only with data of high quality, ACER and national regulatory authorities are able to perform their statutory market monitoring activities on the basis of valid data.
The Bundesnetzagentur would like to ask the parties concerned to take notice of ACER's letter. It aims at improving data quality throughout Europe. Annex I of the letter names the most common types of data quality issues throughout the last year. As an example, the problem of inaccurate timestamps for transactions is highlighted. It is highly relevant for the analysis of manipulative behaviour to uniquely assign a transaction to the time at which the reported event occurred.
Additionally, the Bundesnetzagentur likes to draw attention to the obligation to comply with the Transparency Regulation (Regulation (EU) No 543/2013).