REMIT reporting - contracts concluded on the Virtual Trading Points (VTPs)
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Questions and Answers on REMIT

 

Question III.3.44

 

Are Virtual Trading Points (VTPs) considered as organised market places (OMPs) under Article 2(4) of Commission Implementing Regulation (EU) No 1348/2014? If not, is the contract for the supply of natural gas to a single consumption unit with a technical capability to consume below 600 GWh/year concluded on the VTP reportable to the Agency?


As result of the public consultation on the List of Organised Market Places (PC_2014_R_07), the Agency is of the view that VTPs are currently not to be considered organised market places unless they fall under the definition of organised market place as defined by Article 2(4) of Commission Implementing Regulation (EU) No 1348/2014. In the latter case, VTPs should be included in the List of Organised Market Places. Please see question No 3.2 in the Evaluation of responses available at: http://www.acer.europa.eu/Official_documents/Public_consultations/PC_2014_R_07/ACE R_REMIT_PC%20on%20OMPs_Evaluation%20of%20Responses.pdf.


Therefore, if the VTP does not qualify as organised market place, market participants are required to analyse if their contracts for supply of natural gas fall under Article 3(1)(a)(vii) of Commission Implementing Regulation (EU) No 1348/2014, i.e. contracts for the supply of electricity or natural gas to a single consumption unit with a technical capability to consume 600 GWh/year or more. If the technical capability to consume is below 600 GWh/year the contract for the supply of natural gas to such single consumption unit will not be reportable.

 

 

 

 

Last Updated on Thursday, 17 November 2016 13:22
 

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