Regulation on wholesale energy market integrity and transparency

The actual implementation of REMIT, made through Commission Implementing Regulation (EU) No 1348/2014, aims to detect and prevent the energy market manipulation actions, a fundamental requirement for a functional European market and for maintaining the security of gas supply in Europe – key components of the European Energy Strategy.

ACER (Agency for Cooperation of Energy Regulators) ensures the implementation of REMIT with the help of National Regulatory Agencies of the member states. Therefore ACER elaborated a series of manuals and guidelines published on their website, which are being updated continuously.

REMIT introduces a specific legislative framework for the European energy sector, uncovered so far, to prevent abuses in the wholesale energy market. Launched in 2011 by the European Parliament and the Commission, Regulation 1227 plays a key role in maintaining a functional energy market.

ACER has the obligation to ensure the confidentiality, integrity and protection of the information collected through REMIT.

 

List of information to be reported

Storage system operators have to report to the Agency and, at their request, to national regulatory authorities for each storage facility or, where facilities operated in groups, for each group of storage facilities the following information through a joint platform:

1. the technical, contracted and available capacity of the storage facility;
2. the amount of gas in stock at the end of the gas day, inflows (injections) and outflows (withdrawals) for each gas day;
3. planned and unplanned unavailability announcements of the storage facility and the capacities concerned.

The information referred to in point (1) and (2) shall be made available no later than the following working day while the information including updates of it referred to in point (3) shall be made available as soon as the information becomes available.

ANRE (Romanian Energy Regulatory Authority), designated by the Agency, supports market participants on matters related to registration and compliance with REMIT regulations.

ANRE is in close connection with ACER and is responsible for the investigations it has to perform in case ACER detects suspicious activities.

 

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