ACER REMIT Documentation & FAQ

The Agency currently considers at least the following persons to be market participants under REMIT if entering into transactions, including orders to trade, in one or more wholesale energy markets:

- Energy trading companies;
- Producers of electricity or natural gas;
- Shippers of natural gas;
- Balance responsible entities;
- Wholesale customers;
- Final customers;
- Transmission system operators (‘TSOs’);
- Distribution system operators (‘DSOs’);
- Storage system operators (‘SSOs’);
- Storage system operators (‘SSOs’);
- Investment firms.

Registration of the Market Participant

Who has to register according to REMIT?

According to Article 9 REMIT all market participants entering into wholesale energy market transactions that have to be reported in accordance with Article 8(1) REMIT are required to register. Market participants must register with the national regulatory authority in the Member State in which they are established or resident.

Market participants not established or resident in the European Union (EU) can choose the regulatory authority they register with. However, each market participant may only register with one national regulatory authority.
Market participants established or resident in Germany must register with the Bundesnetzagentur.

How is registration with the Federal Network Agency carried out?

Market participants can register with the Bundesnetzagentur (Federal Network Agency) online using the Centralised European Register of Energy Market Participants (CEREMP) provided by the European Agency for the Cooperation of Energy Regulators (ACER).
Anyone can complete the registration but they must have a power of attorney from the market participant being registered. During the registration, the power of attorney document must be uploaded to the Bundesnetzagentur as an attachment in the first part of the process. This ensures that companies cannot be registered as market participants without their permission.

Links:

English:
User Manual for Registration of the Market Participnat

German:
Handbuch zur Registrierung von Marktteilnehmern

Definition of ‘inside information’

The concept of ‘information’ under REMIT also encompasses information related to all planned or
unplanned changes(unavailability) in the capacity or output of any size at a facility of natural gas or electricity for:

- production,
- storage,
- consumption,
- transmission,
- LNG (gas)

(ACER Guidance on the application of Regulation (EU) No 1227/2011, Pages: 31-32)

“Inside information’ means

- information of a precise nature,
- which has not been made public,
- which relates, directly or indirectly, to one or more wholesale energy products and
- which, if it were made public, would be likely to significantly affect the prices of those wholesale energy products.”

(ACER Guidance on the application of Regulation (EU) No 1227/2011, Page 34)

Disclosure of inside information

The Agency believes that, in order to achieve effective disclosure according to Article 4 of REMIT, the information shall be disclosed using a platform for the disclosure of inside information (Inside Information Platform or IIP).

A simultaneous publication on the market participant’s website or through social media may be used as an additional source for publication. However, it cannot replace the disclosure on Inside Information Platforms.

(ACER Guidance on the application of Regulation (EU) No 1227/2011, Pages 44-45)

Acronyms

MMBtu
1 Million British Thermal Units – A thermal unit of measurement for Natural Gas. Thermal units are distinct from pure volumetric units in that they assume a certain energy content of the gas. Gas that is more liquids-rich, may have a higher Btu content within the same volume as dry gas.

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