ACER welcomes REMIT implementing acts: ACER has welcomed the Commission's adoption of implementing acts under the Regulation on Energy Market Integrity and Transparency (REMIT) on data collection which will define the details of reporting and:
- draw up the list of reportable contracts and derivatives;
- lay down the details, timing and form of reporting; and
- adopt uniform rules on the reporting of information to ACER.
The legislation will take effect 20 days after publication in the OJEU, which ACER expects to take place in early 2015. After that, participants will have:
- nine months to prepare to report reportable wholesale energy contracts admitted to trading at Organised Market Places and of fundamental data from transmission systems operators' central information transparency platforms; and
- 15 months to prepare for the reporting of the remaining reportable wholesale energy contracts and data.
Market participants have to register with National Regulatory Authorities before they enter into reportable transactions. (Source: ACER Welcomes REMIT Implementing Acts)