31.10.2024 – ACER – Remit Quartely Report 2024 Q3

The REMIT Quarterly Q3 2024 report provides an overview of activities and developments under Regulation (EU) No. 1227/2011 (REMIT) on wholesale energy market integrity and transparency. Key highlights include:

  1. Stakeholder Engagement:
    • ACER held joint roundtable meetings in September 2024 to gather feedback on the revised REMIT Implementing Regulation and new reporting obligations.
    • Further meetings are planned for November 2024 to discuss upcoming data reporting requirements.
  2. Updated Guidance and Reports:
    • New guidance documents were published on topics such as transaction reporting, LNG delivery contracts, and intraday auctions.
    • A public consultation was launched to revise the annex of the REMIT Implementing Regulation, focusing on data collection and reporting standards.
  3. Market Surveillance and Conduct:
    • Over 370 potential breaches of REMIT were under review, with a focus on market manipulation and insider trading.
    • Collaboration with national regulatory authorities (NRAs) ensures a consistent approach to handling REMIT violations.
  4. Market Information and Transparency:
    • ACER collects and analyzes over 7.2 million transaction records daily to support market integrity and transparency.
    • Continuous data sharing with NRAs and European authorities aids market monitoring and enforcement.
  5. Marketplace Assessment:
    • Energy trading volumes increased by 16.86% compared to Q3 2023, particularly in natural gas forward markets.
    • There were 1,975 active market participants in Q3 2024, with significant activity in electricity and natural gas markets.
  6. Recommendations to the European Commission:
    • ACER proposed updates to delegated acts to improve data collection, transparency, and oversight of reporting entities.

The document reflects ACER’s ongoing efforts to enhance transparency, monitoring, and regulation in European energy markets, aligned with updated REMIT requirements. If you’d like further details on a specific section, feel free to ask!