REMIT is applicable for any energy market participant; it means natural or legal person; who enters into transactions, including the placing of orders to trade, in one or more wholesale energy markets. As the most significant impact should be considered the trade and fundamental data reporting obligations related to any wholesale energy products.
More information you find at REMIT sub-page.
When is required to start with reporting of individual transactions?
REMIT implementing acts set forth as follows:
7 October 2015 – the obligation to start with reporting of orders and transactions related to the standard contracts realized at the organized market places. In the same time all outstanding standard contracts concluded on the organised market places before this date has to be reported within 90 days to the Agency.
7 April 2016 – the obligation to start with reporting of orders and transactions related to the standard and non-standard contracts concluded at the organized market places as well out of the organized markets, electricity and natural gas transmission contracts and also respective fundamental data. In the same time all outstanding transactions concluded before this date and still valid has to be reported within 90 days to the Agency.
Note: A list of standard contracts at respective organized market places you could find at https://www.acer-remit.eu/portal/standardised-contract.
What are deadlines for reporting of the individual transactions?
Details of standard contracts and orders to trade shall be reported as soon as possible but no later than on the working day following the conclusion of the contract or placement of the order.
Details of non-standard contracts including any modification or the termination of the contract and transactions shall be reported no later than one month following the conclusion, modification or termination of the contract.
What is a role of Solien in REMIT reporting process? What is RRM?
RRM (Registered Reporting Mechanism) is an entity being entitled to report trade and/or fundamental data directly to ACER. Only registered RRM can report requested data under the REMIT.
Company Solien is an independent RRM complying with all technical and organizational requirements for the data reporting and is registered by ACER. Any wholesales energy market participant can fullfill its REMIT obligation by our services.
Does Solien provide REMIT reporting services only for standard contracts or also for non-standard contracts? Respectively concluded on organized market places or out for them, OTC trades, etc.?
Solien provides an ability to meet REMIT reporting obligations for all types of contracts; i.e. standard, non-standard contracts and concluded on organized market places as well as out of them.
In the same time we intend to provide reporting of the fundamental data service.
What about general terms and conditions for respective services and respective fees?
For general terms and conditions as well as related fees please contact us.
Are you planning to provide training or testing environment?
In a customer zone there are user manual, information security rules, recommendations as well as tips for the most efficient usage.
In the same time we intend to provide the testing environment also for clients, where individual functionalities could be tested.