REMIT Transaction Reporting

Everyone who participates in wholesale energy markets within the Union is obliged to report under REMIT. According to ACER, there is no difference whether or not the person resides within the EU or whether or not they are professional investors. Moreover, non-EU and non-EEA market participants are covered by REMIT when entering into transactions, including the placing of orders to trade, in one or more wholesale energy markets in the Union.

The benefits include:

• having one interface for delegating automated REMIT Transaction and EMIR Trade Reporting
• significant reduction in the reporting efforts for REMIT transaction data
• the availability of REMIT & EMIR data files for downloading
• monitoring of reported data and reporting status via an easily accessible web interface

The following steps need to be completed:

• Application for Admission to the concerning Organised Market Place (OMP)
• Registration as a Market Participant at your National Regulatory Authority (NRA)
• Filling in and signing the current REMIT Data Services Agreement with EEX Group

No, the transfer of REMIT data files to ACER is conducted automatically and monitored by the EEX compliance services team. Market participants do not have to interfere in order to fulfil their reporting obligation, BUT they are obliged to download and verify their REMIT data files on a regular basis.

Reporting to EFETnet is an established additional service of EEX Group’s REMIT transaction reporting, but it can only be selected together with the basic service of EEX or Powernext.

Market participants obliged to report REMIT data to the Swiss Federal Electricity Commission ElCom are offered an additional service with EEX and Powernext within the REMIT Data Services Agreement. REMIT data files of EPEX SPOT members in Switzerland will be sent to ElCom simultaneously with the data transfer to ACER.

Members that wish to have access to the Trayport reporting service for EEX or Powernext should select the basic service. Trayport will then retrieve the data directly from the FTP.

EEX is the authorised Registered Reporting Mechanism (RRM) for the reporting of EEX and Powernext (PEGAS) trading data. Reporting is performed using the ACER Code B0000104M.DE. EPEX SPOT is the authorised RRM for the reporting of EPEX SPOT trading data, using the ACER Code B0000258F.FR for EPEX SPOT SE and B00008938.UK for EPEX SPOT UK.

Trading participants that intend to delegate their REMIT reporting obligations to Powernext as well as those who have already done so, are asked to provide this information in section 5 of their CEREMP Registration as a Market Participant (Data related to delegated parties for reporting on behalf of the Market Participant).

EMIR reporting will not replace REMIT reporting since there is no guarantee that all reportable data under REMIT are reported with EMIR. To sum this up: Even if both reporting obligations have certain overlaps, they still differ in detail.

As of 7 April 2016, transactions in wholesale energy markets that are not concluded at an Organised Market Place (OMP) need to be reported.

For REMIT phase II reporting, EEX offers services together with Seven2one. Seven2one uses the RRM infrastructure of EEX, but provides customer support as well as several optional solutions for data connectivity and processing.

The REMIT phase II solution (incl. OTC transaction reporting) offered by EEX and Seven2one is available to all market participants; an exchange membership is not a prerequisite.

For further information, please contact sales@seven2one.de

REMIT Art. 4 is not covered by EEX Group’s REMIT transaction reporting service. The reporting of REMIT inside information has to be delegated with a separate agreement in consultation with the EEX transparency support team. Please contact support@eex-transparency.com for further assistance.