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REMIT Registration for Irish Energy Market Participants

Published: 8/Jun/2015

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REMIT Registration Update 8th June 2015 – Phase 2 Registration

The CER is pleased that a significant number of Irish energy participants have so far registered under REMIT using the online “CEREMP” system which was launched on the CER’s website in February 2015, as linked below.

In accordance with ACER Decision No 01/12, the REMIT registration process has been split into two phases for market participants registering before ACER published for the first time the list of market participants in a European register. In Phase 1, such market participants shall provide information relating to Sections 1 (data related to the market participant), 2 (data related to the natural persons linked to the market participant), 3 (data related to the ultimate controller or beneficiary of the market participant) and 5 (data related to the delegated parties for reporting on behalf of the market participant) of the registration format. In Phase 2, such market participants shall provide the information relating to Section 4 (data related to the corporate structure of the market participant) of the registration format. 

A European register of participants was published by ACER on 17th March 2015, and for any participant who registered before then, the CER understands that Phase 2 registration (i.e. Section 4 information) should be entered via CEREMP within 3 months of this, i.e. by 17th June 2015.  

Any market participant registering after ACER published the register (on 17th March 2015) is required to submit the information related to all the sections of the registration format before the registration form can be considered to be correctly submitted. This must be done by the time the transaction data must be reported on, i.e. prior to 7th October 2015 for participants entering transactions at an organised market places such as the SEM, or prior to 7th April 2016 for other participants.

General information from ACER on REMIT is available here: https://www.acer-remit.eu/portal/home The latest ACER Q&A documents on REMIT, including in relation to the registration process, is available here: https://www.acer-remit.eu/portal/acer-documents

The CER understand that ACER will this week be publishing an updated guidance document on REMIT, which will reference the above registration timing issue. We will link to this document on this section of our website after it is published.  

REMIT: Market Participants Registration with CER by 13th March 2015

Overview

REMIT, the Regulation on Energy Market Integrity and Transparency, entered EU law on 28thDecember 2011 and provides for an EU-wide market rules and monitoring framework related to wholesale energy markets in electricity and gas. For information on the various aspects of REMIT please see ACER’s website here.

A key pillar of REMIT is the reporting by market participants, or third parties on their behalf, ofenergy transaction data to ACER, which ACER can assess for compliance with REMIT’s market rules. “Implementing Acts” specifying the criteria, format and timing for transaction reporting to ACER, were adopted by the European Commission in December 2014 and entered into force on 7th January 2015.

Under REMIT, market participants that report to ACER as set in the Implementing Acts are required to register with the relevant National Regulatory Authority (NRA), including the CER, which the NRA will provide to ACER. Furthermore, pursuant to recent Irish legislation, SI 480 of 2014, failure by required market participants to register with CER is an offence which is liable to a fine or indictment. In this regard the registration and reporting timelines are as follows:

·     Registration of market participants with the NRA - including the CER - is required by 17thMarch 2015;

·     Reporting to ACER for reportable wholesale energy supply and derivatives contracts executed at organised marketplaces, and for ENTSO-E and ENTSOG fundamental data, applies from 7th October 2015; and,

·     Reporting to ACER for other reportable wholesale energy market contracts (OTC standard and non-standard supply and derivatives contracts, transportation contracts), and for additional fundamental data, applies from 7th April 2016.

Registration with CER by 13th March

As per above, relevant market participants must register with the CER under REMIT. The only exception, as stated in Article 4 of the Implementing Acts, is for market participants that only engage in the following, if the trades are not concluded through an organised market place:

·     Contracts for the physical delivery of electricity produced by a single production unit with a capacity equal to or less than 10 MW or by production units with a combined capacity equal to or less than 10 MW; and,

 

·     Contracts for the physical delivery of natural gas produced by a single natural gas production facility with a production capacity equal to or less than 20 MW.

The registration process will provide all registered market participants with a unique identifier called an ACER Code which will be used in reporting data to ACER under REMIT.

The CER is now providing a link to ACER’s online registration system, called CEREMP, which allows market participants to enter registration details with NRAs such as the CER. Please see below the link to this system. 

ACER's Registration System  

General information related to CEREMP is provided as follows: Click Here

The information required for market participants to register on the CEREMP system was decided on and set by ACER in Decision No 01/2012. A primary goal when drafting this decision was to ensure that the registration process is as smooth and straightforward for market participants as possible. The registration process, as reflected by CEREMP, has five parts:

·         Data about the market participant; 

·         Data about natural persons linked to the market participant;

·         Data about the ultimate controller of the market participant;

·         Data about the corporate structure of the market participant; and

·         Data about the delegated parties for reporting on behalf of the market participant.

The first step in the registration process is the market participant registering a username with the CEREMP platform.  Once set-up on the CEREMP system, the market-participant then completes the first phase of a two phase registration process. The information required for the first phase relates to the market participant, natural persons who will be associated with the market participant, the ultimate beneficiary of the actions of the market participant and, optionally, information relating to any delegated party which may be reporting transactions to ACER on the participant’s behalf.

Stage 1 information is to be entered by relevant market participants and verified by the CER by 17th March 2015 – to facilitate this in a timely manner, market participants are requested to enter register information on CEREMP as soon as possible and by no later than Friday 13th March 2015.   

Phase 2 of the registration process will occur after the completion of Phase 1, i.e. after 17th MarchUnder the second phase market participants shall be required to identify their corporate structure, for example parent company/subsidiary relationships. Further information on Phase 2 will follow on the CER’s website in late March. 

Registration Queries

General information on REMIT and the registration process is available here at ACER’s website. For any other issues regarding the registration process, please contact the CER acerempdesk@cer.ie.

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