Energy market
Central Dispatch Electricity System - only as a derogation
Friday, 14 August 2015 18:51

 

Is there still a room for Central Dispatch Model is the EU Internal Electricity System? 

 

In the recent Recommendation No 03/2015 of 20 July 2015 on the Network Code on Electricity Balancing, the European overseer of electricity markets - the Agency for the Cooperation of Energy Regulators (ACER) - departs from its earlier stance expressed in the Framework Guidelines on Balancing (which acknowledged the parallel existence of central dispatch and self-dispatch arrangements of European electricity markets when drafting the Network Code on Electricity Balancing) and nominates the Self-Dispatching Model to be "the primary dispatching model to be applied by TSOs for determining generation and consumption schedules".

 

Consequently, Central Dispatch has been allowed for Transmission System Operators only as an exemption, provided the relevant authorities' approval has been granted.

 

Read more...

 

 
10 MW REMIT reporting threshold - manageable by the way of contracting
Monday, 10 August 2015 06:23

 

In determining whether the electricity production facility is able to make use of the de-minimis exemption from the REMIT reporting requirement the three elements are relevant:

(1) spatial proximity (whether installations are spatially separated)

(2) ownership structure, and

(3) marketing for several smaller installations in one common contract/multiple contracts.

 

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RRM designation when first registering under REMIT - complicated case
Friday, 10 July 2015 08:39

 

The latest version of a ACER's Questions and Answers on REMIT brings once more some important novelties of crucial practical importance.

 

However, one may still feel confused what is the clear requirement with respect to Registered Reporting Mechanism (RRM) designation when first registering with CEREMP.

 

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ACER's common schema for REMIT publications - carbon impact and "decision time" included
Wednesday, 10 June 2015 06:35

 

ACER recommends, REMIT publication schema should include, among others, the field "impact on carbon permit prices" as well as "decision time" in order to allow users to evaluate the timeliness of the disclosure.

 

Read more...
 
Financially-settled energy products traded outside the EU also to be reported under REMIT
Thursday, 05 February 2015 10:16

 

If a person enters into a transaction on a derivative contract related to EU gas and electricity (such as a futures contract only for financial settlement that is traded on exchange located outside the EU), that person is not a REMIT market participant. 

 

However, according to the European energy market regulator, if that person also enters into transactions, including the placing of orders to trade, in one or more wholesale energy markets, e.g. enters on a physical trade (or derivative) for the delivery of gas or electricity (or transportation of gas or electricity) within the EU, that person is a market participant and has to report all the transactions on wholesale energy products including those trades outside the EU that are only for financial settlement.

 

This interpretation imposes REMIT reporting requirements on the - quite extensive - category of extra-EU financial derivatives trades and counterparties.

 

Read more... 

 

 
REMIT reporting approaches...
Thursday, 15 January 2015 21:05

REMIT-caution

 

So, given that the final TRUM is already adopted and published, the key point for any engaged in energy trading is now to establish whether:

(1) the trading platform at issue qualifies as an "organised market place", and

(2) the contract at issue is a "standard contract" or a "non-standard" one.

 

While the former determination looks like not so difficult (but, sometimes, surprising), the latter appears quite a complex task.

 

Finally, the identification of "non-standard contracts specifying at least an outright volume and price" (for which specific reporting rules apply) is really a puzzle!

 

 
European Commission Regulation 543/2013 - generation units' and production units' terminology complexities
Tuesday, 16 December 2014 21:42

 

Two power plants of identical overall capacity of 120 MW each have divergent transparency obligations, depending on the capacity of their electricity generators.

 

Read more...
 
REMIT registration: the separation of roles "Head of Trading" and "Head of Operations"
Tuesday, 09 December 2014 21:11

 

For market participants with physical assets, "person responsible for operational decisions" should be "the person who is responsible for decisions relating to the running of these assets". And for market participants who don't possess such assets? 

 

Read more...
 
Intragroup brokers - need to bother for REMIT reporting?
Tuesday, 25 November 2014 00:26

 

Do the intragroup brokers qualify as organised market places for REMIT reporting purposes and what are potential consequences?

 

Read more...
 
REMIT reporting rules settled
Saturday, 22 November 2014 12:43

 

REMIT Implementing Regulation specifying responsibilities' allocation for power and gas transactions' and orders' reporting has gone through the comitology procedure and awaits for adoption by the European Commission. 

 

Emissions-EUETS.com has looked into details of the new reporting scheme.

 

Read more...

 

 
Nuances of REMIT and EMIR reporting
Sunday, 17 August 2014 10:50

 

Intra-group transactions and orders' reporting are areas where both schemes should not be commuted for...

 

Read more...
 
ACER code vs. LEI - which one more important?
Saturday, 02 August 2014 12:54

 

It appears from the latest embodiment of the REMIT draft Trade Reporting User Manual (TRUM) that in the REMIT compliance system ACER code and the LEI may be used interchangeably. 

 

Read more...

 

 
How the REMIT compliance system should look like?
Thursday, 17 July 2014 09:39

 

It appears, energy regulators have gathered sufficient knowledge, and are keen now to acquire experience in practical aspects of REMIT functioning.

 

Recent Ofgem communication indicated the regulators' key areas of interest for REMIT compliance checking.

 

Read more...
 
Electricity Balancing Network Code transitional arrangements - existing agreements affected
Friday, 16 May 2014 14:29

 

While negotiating any agreements with electricity transmission system operators it is necessary to take account of provisions of the draft ENTSO-E Network Code on Electricity Balancing.

It is only non-binding draft now - some may say. Never mind...

  

Read more...
 
Firmness - financial hedge between bidding zones or capacity product
Saturday, 03 May 2014 13:15

 

Who will pay for market spread? 

 

Read more...
 
RRM conception crystallised
Tuesday, 22 April 2014 01:00

 

Market participants may choose either to become an RRM themselves or to use one or more third party RRMs to submit transaction reports to the ACER.

 

Read more...
 
Coal-biomass co-firing plants in the Community Guidelines on Environmental and Energy State Aid for 2014-2020
Saturday, 29 March 2014 14:59

 

Coal-biomass co-firing plants under serious risk of returning aid due to imprecise clues.

 

Read more...
 
ACER's list of standardised and non-standardised contracts - indispensable tool for wholesale energy market players
Saturday, 23 November 2013 13:50

 

From practical point of view the important task for market participant when it comes to REMIT reporting will be  the qualification whether the contract is standardised or not.

The ACER' list of standardised wholesale energy contracts would specify types of contracts for which standard reporting is mandatory.

 

Decisive for the reporting as standardised or non-standardised contract will be the fact whether a contract is or is not listed in the Agency's REMIT database.

 

All non-listed energy commodity contracts would be considered non-standardised and are to be reported with the non-standard reporting form, but including a copy of the contract as such in order to enable the Agency to revert to it in the market monitoring of wholesale energy markets in case of suspicious behaviours.

 

Read more...
 
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