The EU’s revised REMIT Regulation (EU No. 1227/2011) — commonly referred to as REMIT II — was adopted in early 2024 and introduces significant changes to strengthen transparency, market integrity, and enforcement in Europe’s wholesale energy markets.

Here’s what’s coming and how remitcloud.de helps ensure compliance.

🔍 Key Changes at a Glance

1. EU Representative Requirement for Third-Country Market Participants

Companies based outside the EU will be required to appoint an official EU representative. This representative must be registered with ACER and the competent national regulatory authority (e.g. Bundesnetzagentur in Germany) and serve as the formal point of contact for compliance and enforcement matters.

➡ Our solution: remitcloud.de offers a full EU representative service, including mandate setup, registration, address provision, and regulatory communication.

2. Expanded Reporting Obligations

REMIT II adds new categories of reportable data and strengthens existing ones, particularly regarding:

• Fundamental data (e.g. electricity, storage, LNG terminals, capacity constraints)
• Order and transaction reporting in greater detail and frequency
• Standardized formats, validation rules, and deadlines

➡ Our solution: As a certified RRM, we support the complete ACER reporting scope – TRUM, UMM, fundamental data, and more – including automated validation and integration.

3. Stronger Regulatory Powers

ACER and national regulators will be granted broader powers to investigate and enforce compliance across borders, with streamlined cooperation mechanisms.

➡ Our solution: We provide proactive alerts, audit-proof data logs, and support throughout inspections or regulatory requests.

💡 What It Means for You

Whether you’re already reporting under REMIT or preparing to enter the EU market, REMIT II brings new legal, technical, and procedural requirements. Non-compliance may result in enforcement actions, delays, or market access issues.

✅ Why Remitcloud.de?

We provide an integrated, cost-efficient REMIT compliance platform:

• ✅ Full support for ACER and ElCom reporting
• ✅ Publication of inside information via certified IIP
• ✅ EU representative service for third-country entities
• ✅ LNG and storage reporting included
• ✅ Custom integrations & flexible automation
• ✅ Significantly more affordable than many competitors

📩 Stay Ahead of REMIT II

The new regulation will impact all market participants in the EU and beyond. Now is the time to assess your readiness and secure a partner with the tools and expertise to guide you.

📧 Reach out to us for a consultation or live demo:
info@remitcloud.de | www.remitcloud.de

The 39th edition of ACER’s REMIT Quarterly, covering the fourth quarter of 2024, provides several key updates:

• Data Reporting Enhancements
  ACER has been refining data reporting processes in line with the revised REMIT framework. Notably, two joint roundtable meetings were held on 26 and 28 November 2024 with Registered Reporting Mechanisms (RRMs), Inside Information Platforms (IIPs), Associations of Energy Market Participants (AEMPs), and Organised Market Places (OMPs). These sessions focused on the upcoming revision of the REMIT Implementing Regulation and shared updates on data reporting guidance.
• Expert Group Meetings
  The 3rd and 4th meetings of the Expert Groups on Wholesale Energy Market Data Reporting and on Wholesale Energy Market Integrity and Transparency were convened. These groups play a pivotal role in advising ACER on REMIT-related matters, ensuring effective market surveillance and data reporting.
• Hydrogen Market Transparency
  Market participants in the hydrogen sector are reminded of their obligations to disclose inside information, promoting transparency and integrity as this market evolves.

ACER draws the attention of market participants to the obligation under Regulation (EU) 2017/1938 on measures to safeguard the security of gas supply, as revised by the Regulation (EU) 2024/1789, which will be applicable as of 5 February 2025. This said provision entails that hydrogen market participants are expected to start registering with their relevant NRAs as of this date, in order to fulfil their obligations in relation to the disclosure of inside information. Nonetheless, the Agency reminds that the reporting of hydrogen related wholesale energy products as per Article 8 of Regulation (EU) 1227/2011 on wholesale energy market integrity and transparency (REMIT), as revised by Regulation (EU) 2024/1106, is not expected to commence until the Commission Implementing Regulation (EU) 1348/2014 on data reporting is revised.

• Guidance Updates
  ACER has updated its guidance documents on REMIT transaction reporting, highlighting trends in data reporting and recognizing the top five reporting entities.
• REMIT Breach Cases
  By the end of Q4 2024, ACER had 390 REMIT breach cases under review, reflecting ongoing efforts to monitor and enforce compliance in wholesale energy markets.
• Trading Activities Summary
  The report provides a summary of 2024 trading activities on Organised Market Places, offering insights into market dynamics over the year.

These developments underscore ACER’s commitment to enhancing transparency, integrity, and oversight in Europe’s wholesale energy markets.

Link: acer.europa.eu

The document “Evaluation of Responses to the Public Consultation of ACER on the Revision of the Annex of the REMIT Implementing Regulation” provides a comprehensive review of feedback from stakeholders regarding proposed changes to the REMIT Implementing Regulation Annex.

Below is a concise summary:

Purpose of the Document

The report evaluates input from a public consultation process aimed at revising the Annex of the REMIT Implementing Regulation (IR). This process ensures the data reporting framework aligns with market evolution and regulatory needs while considering feedback from stakeholders like market participants, regulatory bodies, and organized marketplaces.

Key Highlights

1. Consultation Background:
   • Regulation (EU) 2024/1106 introduced amendments to REMIT in May 2024, necessitating updates to the Implementing Regulation by May 2025.
   • ACER conducted a consultation from June to September 2024 to gather stakeholder input.
2. Stakeholder Participation:
   • A total of 92 stakeholders, including market participants, organized marketplaces, and national regulators, contributed feedback.
   • Responses highlighted a general preference for maintaining simplicity and minimizing administrative burdens.
3. Key Feedback Themes:
   • Alignment with Market Evolution: Stakeholders recommended flexibility in reporting requirements, avoiding unnecessary additions to data fields unless clearly justified.
   • Data Reporting Formats: Strong opposition was voiced against transitioning from XML to alternative formats like JSON due to potential costs and system disruptions.
   • Algorithmic Trading and System-Generated Orders: Concerns were raised about the feasibility and clarity of proposals to flag algorithmic trading or differentiate system-generated orders.
   • Delivery Profiles: Suggestions were made to refine the reporting of delivery intervals without excessive restructuring of existing tables.
4. Recommendations and Challenges:
   • Simplification: Stakeholders emphasized maintaining a lean data structure while ensuring data quality.
   • Consistency: Calls were made for a unified approach to naming conventions and data fields across markets and trading platforms.
   • Implementation Timelines: Adequate lead time (e.g., 12 months) was requested for implementing any changes to allow stakeholders to adapt systems.
5. Next Steps:
   • ACER plans to use the consultation feedback in discussions with the European Commission.
   • Further stakeholder engagement is expected, including roundtable meetings to finalize proposed changes.

Notable Insights from Responses

• Stakeholders were divided on adding new data fields, with many arguing that existing fields could be optimized to avoid complexity.
• There was broad support for optimizing the use of ACER codes for entity identification while reducing redundant fields.
• Algorithmic trading and direct electronic access (DEA) reporting were identified as areas requiring clearer definitions and limited additional reporting obligations.

Evaluation of responses to the public consultation of ACER on the revision of the Annex of the REMIT Implementing Regulation

The two versions of Annex VIII of the “Transaction Reporting User Manual” (TRUM) by the Agency for the Cooperation of Energy Regulators (ACER) provide guidelines for reporting liquefied natural gas (LNG) supply contracts under the REMIT regulation. Below are the main differences between Version 1.0 (March 13, 2024) and Version 1.1 (September 30, 2024):

Key Differences

1. Clarifications and Refinements:
   • Version 1.1 includes additional clarifications regarding reporting requirements for LNG supply contracts, especially for spot and portfolio contracts and associated transactions.
   • New examples and scenarios have been added to help market participants better understand the requirements.
2. Adaptations to Regulatory Changes:
   • The updates reflect amendments in the REMIT regulation to ensure that the guidelines align with the latest regulatory requirements.
   • References to updated documents and supplementary guidance were incorporated to maintain consistency with other ACER publications.
3. Structural and Formatting Improvements:
   • The structure of the document has been revised to enhance readability and usability.
   • Sections have been reorganized, with headings and subsections adjusted for easier navigation.

Summary

Version 1.1 of Annex VIII of the TRUM offers expanded and refined guidance on reporting LNG supply contracts under REMIT. These updates aim to provide market participants with clearer instructions and ensure that the guidelines remain compliant with current regulatory standards.

For more detailed insights, consulting the specific sections of each version is recommended. Let me know if you’d like further assistance!

Version 1.1

Version 1.0

Version 1.1 vs. Version 1.0