|Fundamental data (REMIT definitions)|
|European Union Electricity Market Glossary|
”Fundamental data” in the REMIT compliance system refer to Article 8(5) of REMIT Regulation, which provides that market participants are required to report to the European Agency for the Cooperation of Energy Regulators (ACER) and national competent authorities information related to the capacity and use of facilities for production, storage, consumption or transmission of electricity or natural gas or related to the capacity and use of LNG facilities, including planned or unplanned unavailability of these facilities.
“Fundamental data” have been defined in this context in Article 2(1) of REMIT Implementing Regulation (No 1348/2014) as “information related to the capacity and use of facilities for production, storage, consumption or transmission of electricity and natural gas or related to the capacity and use of LNG facilities, including planned or unplanned unavailability of these facilities”.
Fundamental data reports in combination with trade feeds enable European and Member State regulators to detect and to prevent suspected market abuse relating to wholesale energy products.
Pursuant to the REMIT Implementing Regulation fundamental data on electricity will be reported to the ACER by the ENTSO for Electricity, on behalf of market participants.
The detailed scope for fundamental data reporting is specified in Articles 6 to 17 of Commission Regulation No 543/2013.
The said information must be reported through the central information transparency platforms.
Moreover, electricity Transmission System Operators (TSOs) or third parties on their behalf must report to the ACER and, at their request, to national energy regulatory authorities final nominations between bidding zones specifying the identity of market participants involved and the quantity scheduled.
For the rules regarding other categories of fundamental data, i.e.:
Fundamental data reporting under REMIT is supported by robust legal requirements for the disclosure of inside information.
|Last Updated on Saturday, 10 August 2019 21:54|