Act against Restraints of Competition (GWB)
The setting up and operation of a Market Transparency Unit for Wholesale Electricity and Gas Markets (MTU Electricity/Gas) is governed by the Act against Restraints of Competition (GWB). The GWB provides for the establishment of the MTU Electricity/Gas at the Bundesnetzagentur. The Bundesnetzagentur and the Bundeskartellamt carry out the tasks of the MTU Electricity/Gas jointly and their staff work together in the MTU Electricity/Gas.
The relevant provisions have been added to the GWB (sections 47a – 47j and 47l GWB) by the German Act on the Establishment of a Market Transparency Unit for Wholesale Electricity and Gas Markets (Federal Law Gazette 2012 Part I no 57).
Accordingly, the MTU Electricity/Gas has the authority to collect and evaluate all relevant data and information on the trade in gas and electricity, including data relating to its generation. It performs this task centrally, continuously and comprehensively.
The MTU Electricity/Gas continuously monitors the market with the aim of detecting indications of breaches of REMIT, competition law, WpHG and BörsG. Once the enforcement authorities responsible have been informed, they can investigate these breaches and impose sanctions promptly. Constant monitoring of market events is intended to act as a deterrent to prevent price manipulations.
MTU Electricity/Gas ordinance
To establish the MTU Electricity/Gas data collection process, the Federal Ministry for Economic Affairs and Energy (BMWi) will issue an ordinance having the force of law pursuant to section 47f GWB. This will include more detailed provisions on the content, the type and the scope of the data and information that the MTU Electricity/Gas may stipulate in its requirements.
As soon as the BMWi has issued this ordinance, it will be made available in the section 'Documents'.
Requirements stipulated by the MTU Electricity/Gas
In accordance with the ordinance to be issued by the BMWi, the MTU Electricity/Gas may stipulate its own requirements for the data to be forwarded to it.
These requirements may apply to both transaction data and fundamental data (sections 47e and 47g GWB). The MTU Electricity/Gas may also stipulate the date, the data format and the reporting channels for the data transmission.
The MTU Electricity/Gas' requirements for the data to be forwarded to it will be published in the section 'Requirements proceedings' and 'Documents' once they enter into force.
The MTU Electricity/Gas is responsible within a European regulatory framework for monitoring activity on the energy wholesale markets to prevent insider trading and market manipulation (REMIT Regulation). To assist it in its monitoring tasks, the MTU Electricity/Gas receives the data relevant for the German market that has been collected at the European level under the REMIT Regulation.
The exact details of the data and data categories are set out in the REMIT Implementing Regulation (EU) No 1348/2014 by the European Commission. This regulation entered into force on 07 January 2015. The regulation is available in the section 'Documents'.