Following the recent publication of the EU Agency for the Cooperation of Energy Regulators’ (ACER) annual reports on the implementation of two of the five gas network codes, it has become clear to some in the European gas industry that, at this stage, the EU’s vision of a single energy market is still something of […]
Energy Connections
REMIT second reporting phase nears
With only a couple of weeks left before additional energy trade reporting requirements kick in, trading firms are trying to solve various last-minute issues. Since October 2015, under the regulation for wholesale energy market integrity and transparency (REMIT), firms registered as market participants have been reporting to the Agency for the Cooperation of Energy Regulators (ACER) all […]
Gas industry struggles to prepare for changing rules amid tariffs storm
Knowing how to prepare for going outside during winter months feels, at times, impossible to predict in London. The weather behaves erratically from week to week – mild and rainy; brisk and sunny; bitter and cold; snowy and grey. At times, it has seemed that shippers, transmission system operators (TSOs) and regulators throughout the bloc […]
ACER looks to form group on energy derivatives
EU regulators agency ACER is looking for people to form an ad-hoc expert group on energy commodity derivatives. This is hardly surprising given how difficult defining energy derivatives has become, and the even harder part of understanding which EU legislation an energy derivative or physical forward falls under. The group will advise the agency on […]
Thirty investigations for potential REMIT breaches open at end of 2014
ACER has launched a quarterly report on REMIT, and one interesting nugget is that 30 cases of potential breaches of the regulation were being investigated at the end of 2014. The agency said 14 investigations were closed during 2014. Potential REMIT breaches are investigated by national authorities rather than the agency, although ACER can coordinate […]
ACER launches updated REMIT Q&A
ACER published a third version of its REMIT Q&A on Wednesday evening. It is an easy-read guide on the who, what, when, where of REMIT. You can find the Q&A here. The ACER portal has a lot of useful info and documents on REMIT generally. One date to look out for is 17 March when […]
ACER’s need for bodies through the door
The Agency for the Cooperation of Energy Regulators – ACER – has not being shy of stating its need for extra funding so it can properly monitor energy markets and other responsibilities it will assume under REMIT. The Ljubljana-based agency has laid out what it needs in its 2015 work programme – 15 new staff. […]
Provisional list for REMIT trading venues published
ACER has released the provisional list of organised trading venues for REMIT. Any trades agreed through one of these platforms will needed to be reported from the first phase of trade reporting under REMIT. The agency is running a consultation until December, so changes to the list are possible.
EFET looks to increase ACER powers
The European Federation of Energy Traders – EFET – has come down relatively hard on TSOs and their representative bodies in a position paper sent to the incoming European Commission. The traders’ association wants to strengthen the role of Agency for the Cooperation of Energy Regulators (ACER) in the process of hammering EU policy, while reforming […]
Knowing what is in your REMIT
As mentioned in this blog recently and in this ICIS story today, the implementing acts for REMIT are likely to come in November. It is possible they might come sooner. In the article linked to above, some market participants complain about the six-month timeframe companies will have to digest the implementing acts before they have to […]
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