The evaluation and proposed changes seek to create greater consistency and clarity in REMIT reporting standards.
ACER published a Public Consultation Evaluation on the revision of electronic formats for transaction data, fundamental data and inside information reporting under Regulation (EU) No 1227/2011 (REMIT) based on stakeholder survey data collected in 2017, and discussions held with National Regulatory Authorities (NRAs) in June 2018 as well as at Market Data Reporting Standing Committee meetings throughout last year. ACER plans to introduce relevant changes from Q4 2019 and into 2020. A detailed implementation plan will be provided and communicated to stakeholders in early 2019.
The proposed changes include provisions to simplify and clarify how data is reported. The current process for the reporting of electricity transportation contracts consists of six different “xsd” files and contains several mandatory fields that are not included in Table 3 of the REMIT Implementing Regulation. The proposed new process will allow market participants to report data only as required by the Regulation.
In addition, the proposed changes would implement the same technical standards for Tables 1, 2 and 4 (e.g. a single file), which will harmonise the reporting of all the different types of transaction data. The proposed changes also seek to ensure that entities report “Total notional contract quantity,” and “load type,” the reporting of which is currently optional. Overall, the evaluation and proposed changes seek to create greater consistency, clarity and transparency in reporting standards.