Głowacki Law Firm

Energy market
REMIT registration: the separation of roles "Head of Trading" and "Head of Operations"
Tuesday, 09 December 2014 20:11


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? 


Intragroup brokers - need to bother for REMIT reporting?
Monday, 24 November 2014 23:26


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


REMIT reporting rules settled
Saturday, 22 November 2014 11:43


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.




Nuances of REMIT and EMIR reporting
Sunday, 17 August 2014 09:50


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


ACER code vs. LEI - which one more important?
Saturday, 02 August 2014 11:54


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. 




How the REMIT compliance system should look like?
Thursday, 17 July 2014 08:39


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.


Electricity Balancing Network Code transitional arrangements - existing agreements affected
Friday, 16 May 2014 13:29


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...


Firmness - financial hedge between bidding zones or capacity product
Saturday, 03 May 2014 12:15


Who will pay for market spread? 


RRM conception crystallised
Tuesday, 22 April 2014 00:00


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.


Coal-biomass co-firing plants in the Community Guidelines on Environmental and Energy State Aid for 2014-2020
Saturday, 29 March 2014 13:59


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


ACER's list of standardised and non-standardised contracts - indispensable tool for wholesale energy market players
Saturday, 23 November 2013 12:50


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.


Secondary trading platform for long term transmission rights - a new business opportunity
Monday, 28 October 2013 06:05


Network Code on Forward Capacity Allocation - ENTSO-E final proposal of 1 October 2013 made important business choices with respect to the role of transmission system operators in the secondary trading.


Seasonal forwards considered temporarily the most appropriate indexes for baseload reference price in the UK FIT CfD
Thursday, 15 August 2013 06:53


The reference price for baseload generation under the UK FIT CfD contracts scheme (implementation thereof is intended in summer 2014 already) will initially be calculated from the two reference prices each year; one set every six months, however, the concrete set of indices and their weightings are yet to be confirmed, thus financial assessments are still not viable.


Moreover, the longer term intention is to move in that regard to year-ahead forward prices and the  unknown mechanics of this transition adds to the investors' risks.


ACER narrows premises for disclosing REMIT inside information on market participant's own websites
Wednesday, 14 August 2013 09:27


Market participants may disclose REMIT inside information on their own website either as a fall-back option or simultaneously to a disclosure of inside information through an inside information platform, however, the updated regulatory guidelines appear to treat the publication of inside information on the market participant's own website as an interim measure, allowed only under multiple conditions and unless otherwise specified.


ENTSO-E proposes the key rules for harmonised imbalance calculation and pricing
Tuesday, 13 August 2013 07:17


In order to give adequate incentives for Balance Responsible Parties (BRPs), the draft Code Balancing Code asserts that BRP aggravating imbalances shall not be priced less (for shortage) respectively more (for surplus) than the weighted average price for Frequency Restoration Reserve (FRR) and Replacement Reserve (RR) in the relevant area, in order to reflect the local imbalance situation.


Bidding zones review - new regulatory risk?
Monday, 05 August 2013 09:00


Do the review of existing bidding zones increase the electricity generators' costs and risks?


Capacity market's MiFID/EMIR treatment
Wednesday, 10 July 2013 08:08
Pursuant to analysis performed on the occasion of the UK energy market reform, capacity instruments will most likely not be a financial instrument for the purposes of the Markets in Financial Instruments Directive (2004/39/EC)("MiFID"). Such instruments would not be within scope of European Market Infrastructure Regulation (EMIR) as well. 
UK capacity market in the light of EC State aid requirements
Sunday, 07 July 2013 14:12


The intended UK capacity market, the major milestones thereof have been recently revealed, appears to reflect the key points of the European Commission' recent consultation on State aid criteria to be applied to capacity mechanisms.


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