Entry into force of REMIT Implementing Regulation
On 7 January 2015 the REMIT Implementing Regulation entered into force. The Implementing Regulation defines the details of wholesale energy products and fundamental data to be reported to ACER under REMIT. Data collected by ACER will be forwarded to the MTU Electricity/Gas.
Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency (‘REMIT’) entered into force on 28 December 2011. REMIT prohibits market manipulation and insider trading in wholesale energy markets and constitutes reporting obligations of market participants to ACER, the Agency for the Cooperation of Energy Regulators.
On 18 December 2014 the European Commission released the Implementing Regulation according to Article 8(2) and Article 8(6) of REMIT which specifies market participants’ data reporting obligations to ACER in more detail. The Implementing Regulation came into force on 07 January 2015. It defines,
• which wholesale energy products and fundamental data will have to be reported,
• who is obliged to report data,
• when data have to be reported,
• to whom data have to be reported,
• in which form data have to be reported,
• if there are de minimis reporting thresholds.
The REMIT Implementing Regulation is of great importance for the MTU Electricity/Gas. For its monitoring tasks, the MTU Electrity/Gas will to a great extent rely on data collected by ACER at the European level. Only to a very limited extent will the MTU Electricity/Gas collect additional electricity and gas data relevant for the German market at the national level. By drawing upon data already collected by ACER double reporting by market participants will be avoided.
Please find the REMIT Implementing Regulation in the section Documents.
Date of modification: 2015.01.15