ACER has updated the Transaction Reporting User Manual (TRUM) to enhance the reporting of ‘liquefied natural gas (LNG) supply contracts’ and ‘power purchase agreements (PPA)’.

• ACER REMIT TRUM v6.0

Particularly noteworthy is the new Annex VIII, which is intended to expand the reporting of LNG supply contracts under REMIT:

• Neu: Annex VIII V1.0

Links to other changes:

• Annex II V5.0
  New examples of spot-type LNG transactions and non-standard contracts
  Version comparison:V5.0-vs-V4.2
• Annex IV V2.2
  Additional clarification on the reporting of the Unique Transaction Identifier (UTI) and Contract ID.
  Most important statement: “Both counterparts are responsible for the generating an identical UTI and Contract ID in their respective reports of the same trade.”
  Version comparison: V2.2-vs-V2.1
• Annex VI V3.0
  Additional information on how to correctly report the Delivery point or zone: how to report EIC code of LNG terminal.
  New:  EIC validator tool.
  Version comparison: V3.0-vs-V2.1

Additionally, the FAQs have been updated to include guidance on reporting transactions related to a local flexibility product and an explanation on reporting a gas transportation contract related to capacity conversion and capacity upgrade:

• FAQ 16^th edition

It is important to note that ACER has not yet published the technical documentation for REMITTable1 (XML schema for standard contracts) and REMITTable2 (XML schema for non-standard contracts). This means that technical implementation is not yet possible.

After publication, market participants are expected to implement the changes within 6 months.

We will inform you as soon as the updated documentation is available so that you have enough time to fulfil the new requirements.

Further information can be found on the ACER website:
ACER updates REMIT TRUM
REMIT Documents

The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) provides an EU framework to ensure the transparency and integrity of energy markets and to deter market participants from manipulating the market. It also plays an important role in protecting the interests of businesses and consumers and ensuring confidence in energy markets.

The REMIT Quarterly is ACER’s main communication channel with stakeholders on REMIT-related issues. It provides updates on a quarterly basis.

Topics:

an updated overview of the sanction decisions for the past year, with 364 REMIT cases under review at the moment;
a fine of €80,000 for non-timely disclosure of inside information relating to the French electricity market;
statistics for registered reporting mechanisms’ (RRMs’) contingency reports;
an assessment of trading on organised market places.
Access the 34th issue of REMIT Quarterly.

Access all issues of REMIT Quarterly.

ACER is convening the 7th REMIT Forum to discuss the Regulation of Energy Market Integrity and Transparency.

The 2023 REMIT Forum delves into the anticipated alterations from the REMIT revision. During 2021 and 2022, various factors, including diminished gas supply and Russia’s actions towards Ukraine, caused a spike in European energy prices. The global economic rebound post-COVID-19 further intensified energy demand, pushing prices higher.

In light of these events, the European Commission introduced two legislative initiatives in March 2023:

1. A revision to REMIT.
2. An overhaul of electricity market design guidelines.

The proposed changes to REMIT seek to synchronize the regulation’s scope with the shifting market landscape. Notable modifications encompass:

• Broadening data reporting to include new electricity balancing markets, joint markets, and automated trading.
• Extending REMIT’s market abuse rules to cover wholesale energy products classified as financial instruments.
• Overseeing entities like RRMs and PPATs.
• Standardizing penalties across National Regulatory Authorities.
• Bolstering collaboration between energy and financial regulators, ACER and ESMA, to ensure a solid regulatory structure for derivative wholesale energy products.
• Amplifying ACER’s supervisory role over RRMs and IIPs to enhance inside information gathering and market clarity.
• Elevating ACER’s role in intricate cross-border scenarios with a European context, fortifying market trustworthiness.
• Indefinitely extending ACER’s authority concerning the Liquefied Natural Gas (LNG) price evaluation and benchmark.

7th REMIT Forum – REMIT II: Improving integrity and transparency in wholesale energy markets | www.acer.europa.eu