Frequently Asked Questions (FAQs) on REMIT transaction reporting
What is the frequency and deadline when reporting non-standard products that change hourly (for example product based deliveries)?
a. Reporting the contract at the latest 1 month from signing the contract
b. But how about reporting the hourly energy of the contract? After 1 month of each delivery hour?
Annex II to the TRUM explains the frequency and deadline when reporting non-standard products.
For the purpose of the reporting of the details of transactions executed within the framework of non-standard contracts, we understand that these transactions should be reported according to the billing cycle industry standards as the invoicing date is the last point in time when price and quantity can be discovered.
Furthermore, we understand that the billing cycle industry standards refer to calendar months and therefore twelve transactions per year (if the executions take place every month of the year) are expected to be reported not later than 30 days after the discovery of price and quantity. However, nothing prevents market participants from reporting the details of transactions executed within the framework of non-standard contracts on a more frequent basis.