REMIT is Regulation No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency. According to REMIT regulation Article 8(1) market participants are required to provide ACER with a record of wholesale energy market transactions, including orders to trade, in order to enhance energy wholesale market transparency and integrity.
17 of December, 2015 European commission approved implementing regulation on the provision of data (REMIT Implementing Regulation), which implements REMIT Article 8(2) and Article 8(6). REMIT Implementing Regulation provides more detailed information about data reporting procedure, list of reportable contracts to ACER, time when data should be provided to ACER, format and rules how data should be presented to ACER.
After the REMIT Implementing Regulation came into force, market participants and third parties that provide data on their behalf must:
• during 9 months period (from 7 of October, 2015) prepare to report data about:
Standard contracts, contracts for wholesale energy products that can be executed in organized market places (exchange), regardless of whether the transactions are conducted inside or outside the system. Additionally, main data from European Network of Transmission System Operators (ENTSO) Transparency Platform.
• during 15 months period (from 7 of April, 2016) prepare to report data about:
Other wholesale market contracts for any kind of wholesale energy products that are not considered as standard contracts (Over-the-counter (OTC) contracts related to the transportation of the natural gas (standard and non-standard)) as well as TSO, LNG and storage system operator main data.
GET Baltic offers following data reporting to ACER services for market participants:
- Reporting data of trades executed on the gas exchange (standard contracts) on behalf of the Exchange participants;
- Reporting data of natural gas and electricity bilateral contracts on behalf of the market participants;
- Fundamental data reporting about each LNG facility on behalf of the market participants and LNG system operators.
From 7 of October, 2015 GET Baltic offers data reporting to ACER service based on REMIT Implementing Regulation Article 6(1). This service enables all trading participants to delegate their reporting obligations of wholesale energy market transactions, including orders to trade, to GET Baltic.
We would like to note that according to REMIT Implementing Regulation Article 6(3), from 7 of April, 2016 (for the second phase of reporting) market participants will have to provide the record of wholesale energy market transactions executed outside of the gas exchange (i.e. bilateral contracts). Taking this requirement into account, GET Baltic is offering all electricity and natural gas market participants service related to the electricity and natural gas bilateral contracts data provision to ACER. For more information for this service please contact us by phone: +370 5 236 0000 or by e-mail: email@example.com.
To be able to report data to ACER on behalf of market participants, Get Baltic offers for all to sign Data Reporting Service Agreement and Annexe (s) (respectively of which data will be reported).
Main request for market participants seeking to enter into the Data Reporting Services Agreement is to be registered as a market participant in accordance to Article 9 of the REMIT Regulation in CEREMP system. Every registered market participant is granted ACER registration code which needs to be provided to GET Baltic and is used when providing trading data to ACER.
- There is no applicable fee for Reporting Service to ACER of Standard Contracts Excecuted on Organised Market Place.
- Fee schedule for Reporting Service to ACER of Natural Gas and Electricity Bilateral Contracts Traded Outside Organised Markets:
|Fee EUR/month||Number of active contracts per month*|
* If the Client provides data on behalf of a third party, contracts are counted separately for each side (buyer and seller).
- Fee schedule for Reporting Service to ACER about each LNG facility:
|Fee EUR (VAT excluded)||Number of active contracts|
|400 EUR||1 (one) report|
In order to ensure efficient, effective and safe exchange and handling of information only Registered Reporting Mechanisms (RRM) are able to submit trading data to the ACER. On 2 of October, 2015 GET Baltic has received RRM status. By granting this status ACER confirmed that GET Baltic complies with all RRM posed technical and organizational requirements pursuant to REMIT Regulation, REMIT Implementing Regulation and Requirements for the Registration of RRM.
RRM code of GET Baltic: B0000889N.LT