Registering as a Market Participant under REMIT (GB)
Practical guidance on registration, transaction reporting, inside information disclosure, and enforcement procedures under Great Britain’s REMIT regime.
Market participant registration
Under Great Britain's REMIT regime, any company that buys or sells wholesale energy for delivery in GB must register with Ofgem before entering into transactions.
Companies already registered with a national regulatory authority in Northern Ireland or the EU do not need to register again in GB.
Registration steps
- 1 Download and complete the REMIT Registration Form.
- 2 Obtain a company authorization letter confirming the individual's authority to act on its behalf.
- 3 Email REMIT.Registration@ofgem.gov.uk to request a secure upload link.
- 4 Upload both the registration form and authorization letter.
EU trading: Market participants based in the UK who want to trade in EU wholesale energy markets must register with the national regulatory authority of the EU Member State where they are predominantly active.
Transaction reporting in GB
Since the UK left the EU, market participants trading wholesale energy products for delivery in GB are not required to report their transaction data to ACER.
Ofgem monitors GB wholesale energy markets using data collected from organised market places (persons professionally arranging transactions) and can request transaction data from market participants when necessary.
Some REMIT transaction-reporting rules are currently on hold; this may change as rules evolve. Contact Ofgem's market conduct team if you observe potential market abuse or suspicious transactions.
Publication of inside information in GB
REMIT requires market participants to publish inside information in an effective and timely manner. Ofgem strongly encourages the use of authorised Inside Information Platforms (IIPs).
Recommended platforms
Electricity
Elexon Insights Solution (formerly BMRS)
Gas
National Gas Transmission's GB REMIT Central Collection & Publication Service
If using other IIPs, ensure inside information will be as widely received by relevant market participants as via the recommended services.
Inside information reporting in GB
Market participants must disclose any inside information about facilities they own, control or operate promptly and effectively. This includes:
- Unplanned outages
- Capacity changes
- Other events that could influence prices
To report potential breaches or raise questions about inside information disclosure, contact Market.Conduct@ofgem.gov.uk.
REMIT Procedural Guidelines
Ofgem's REMIT Procedural Guidelines describe how the regulator enforces REMIT in Great Britain. They outline:
1
How REMIT applies in GB, including requirements and Ofgem's enforcement powers
2
Objectives and principles guiding enforcement actions
3
Types of information used to monitor for possible breaches
4
Criteria for opening investigations into non-compliance
5
Procedures for conducting REMIT investigations
6
How Ofgem uses injunction powers
7
How investigations may be concluded, including settlement processes
Reference links
Ofgem REMIT overview
Registration, guidance and enforcement information for GB REMIT.
Energy trading publications
Decisions, consultations and enforcement updates from Ofgem.
Elexon Insights Solution
Inside information platform for electricity (formerly BMRS).
National Gas Transmission
GB REMIT Central Collection & Publication Service for gas.