REMIT - fundamental data reporting

 


 

 

 

Fundamental data reporting for electricity and gas markets is effected, on behalf of market participants, by, respectively, ENTSO-E and ENTSO-G, with the use of Union-wide central transparency platforms (Articles 8 and 9 of the REMIT Implementing Regulation).

 

The fundamental data reporting is also directed by market participants to ACER (via web feeds) and, in some cases, to the EU Member States' national regulatory authorities.

 

Legal base for fundamental data reporting in Article 8(5) of the REMIT, which reads:

 

"Market participants shall provide the Agency and national regulatory authorities with 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, for the purpose of monitoring trading in wholesale energy markets. The reporting obligations on market participants shall be minimised by collecting the required information or parts thereof from existing sources where possible."

 

Moreover, Article 10(1) of the Commission Implementing Regulation No 1348/2014 of 17 December 2014 on data reporting implementing Article 8(2) and Article 8(6) of Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency (REMIT Implementing Regulation) states:

 

"Market participants disclosing inside information on their website or service providers disclosing such information on market participants' behalf shall provide web feeds to enable the Agency to collect these data efficiently."

 

Fundamental data reporting under REMIT needs to differentiated from the two separate REMIT obligations i.e.:

 

obligation to publish inside information under REMIT (Article 4(1) of REMIT),

 

- transactions and orders reporting (Article 8(1) of REMIT).

  

 

Table 1 Reporting of electricity fundamental data

 

 

ENTSO-E 

on behalf

of market 

participants

 TSOs

 Third-Party 

RRMs 

Market

participants

When? 

Transparency platform data

+

9 months following the Implementing Regulation's

entry into force (7 October 2015) but not before

the platform is operational

Electricity nominations

 +  +

15 months following the Implementing Regulation's 

entry into force (7 April 2016)

 

 

Table 2 Reporting of gas fundamental data

 

 

ENTSO-G 

on behalf

of market 

participants

TSOs  LSOs SSOs

 Third-Party 

RRMs 

Market

participants

When? 

Central platform data

+

9 months following the Implementing Regulation's

entry into force (7 October 2015) 

Gas nominations

 +  +

15 months following the Implementing Regulation's entry into force (7 April 2016) 

Availability of LNG facilities

+ +

15 months following the Implementing Regulation's entry into force (7 April 2016)

Unloading and reloading of LNG  + +  + 15 months following the Implementing Regulation's entry into force (7 April 2016)
Availability of storage facilities  + + 15 months following the Implementing Regulation's entry into force (7 April 2016)
Amount of gas stored  + +  + 15 months following the Implementing Regulation's entry into force (7 April 2016)

Source: ACER's Questions and Answers on REMIT, Question III.4.3. 

 

 

 

ACER's Questions and Answers on REMIT, Fundamental Data reporting

 

Question III.4.1. How can I report fundamental data?

 

The legal basis for the fundamental data reporting is laid down in Article 8 and 9 of the Commission Implementing Regulation (EU) No 1348/2014. While Article 8 defines the rules for reporting of fundamental data on electricity, Article 9 specifies the rules for reporting of fundamental data on gas including also data on LNG and gas storage.

In order to explain the details of reporting, the Agency has prepared the Manual of Procedures on transaction and fundamental data reporting (MoP). The MoP is available here: https://www.acer-remit.eu/portal/acer-documents.

The Agency's intention with the MoP is to provide advice for reporting entities concerning the reporting of fundamental and transaction data. The MoP explains the details of procedures, standards and electronic formats for reporting of fundamental data. In particular, the document includes information on the data submission channels, the data validation rules and the XML-schemas to be used for the reporting.

The focus of the first edition of the MoP is to explain the details of the data fields and reportable schemas related to the electricity and gas fundamental data. Examples of data fields and schemas for the LNG and gas storage data will be included in the MoP in the coming months. 

 

Question III.4.2. Are RRMs allowed to report fundamental data directly to ACER on behalf of market participants for "Unloading and Reloading of LNG" and for "Amount of gas stored" or, on the contrary, are the TSOs and SSOs the only entities that can delegate their reporting of this kind of data to another RRM?

 

In line with Article 9(5) and 9(10) of Commission Implementing Regulation (EU) No 1348/2014, the market participants can delegate the reporting obligation to LSO/SSOs respectively or to any other registered RRM.

 

Question III.4.4. Should the TSOs report fundamental data to the Agency directly, or through the ENTSOs' platforms? Is there an overlap between data sent by TSOs directly to the Agency and through ENTSOs?

 

Article 8(5) of REMIT indicates that the reporting obligations on market participants shall be minimised by collecting the required information or parts thereof from existing sources where possible. For this reason, fundamental data is reported to the Agency through:

(i) ENTSO-E in line with Article 8(1) and (2) of Commission Implementing Regulation (EU) No 1348/2014; and

(ii) ENTSOG in line with Article 9(1) of Commission Implementing Regulation (EU) No 1348/2014.

TSOs are required to report the fundamental data defined in Articles 8(3) and 9(2) of the same Implementing Regulation.

Taking into consideration the above division of reporting, there should be no overlap between data sent by TSOs directly to the Agency and through ENTSOs.

 

Question III.4.5. Who reports the nomination data in case a single point nomination mechanism exists between two bidding zones under the jurisdiction of two TSOs?

 

In order to avoid double reporting ACER will accept one report for the nomination data from one of the TSOs reporting on behalf of both, or by a third party RRM reporting on their behalf. ACER must be informed of the preferred reporting method already during the RRM registration process.

 

 

 

 

ACER' Q&As on REMIT
Question III.3.30.

 

Should gas storage nominations be reported as trades?

 

No, storage contracts are not considered wholesale energy products under REMIT (please see the definition of wholesale energy products under Article 2(4) of REMIT). Storage system operators are required to report nomination data as defined in Article 9(7) of Commission Implementing Regulation (EU) No 1348/2014 as fundamental data. In addition, the market participants or storage system operators (on their behalf) are required to report gas storage data as specified in Article 9(9) of Commission Implementing Regulation (EU) No 1348/2014.

 

 

 

 

IMG 0744

    Documentation    

 

 

 

 

 

REMIT, Article 8(5)

 

Commission Implementing Regulation No 1348/2014 of 17 December 2014 on data reporting implementing Article 8(2) and Article 8(6) of Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency, Article 10(1)

 

 

 

 

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    Links    

 

 

 

 

 

Public Consultation on the revision of electronic formats for transaction data, fundamental data and inside information reporting

 

FAQs on REMIT fundamental data and inside information reporting

 

Transparency platforms

 

 

 

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Attachment

 

 

Annex IV to the ACER's REMIT Manual of Procedures on Transaction Data, Fundamental Data and Inside Information Reporting30 September 2015, extract: pages 54-70

 

Attachment's source: REMIT Portal

 

Attachments:
FileDescriptionFile sizeLast Modified
Download this file (ACER_REMIT_MoP_on_data_reporting_v3.pdf)Data Fields for Findamental Data ReportingAnnex IV to the ACER's REMIT MoP on Data Reporting425 Kb14/11/15 21:52

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Last Updated on Thursday, 05 October 2017 22:23
 

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