Ensuring compliance under the ACER framework
At Etpa, we recognize the complexities of REMIT (Regulation on Wholesale Energy Market Integrity and Transparency) reporting and offer a seamless solution to ensure compliance for our market participants. We provide an integrated REMIT reporting service that simplifies your obligations under the ACER (Agency for the Cooperation of Energy Regulators) framework.
Our REMIT reporting service
Etpa acts as a Registered Reporting Mechanism (RRM), enabling participants to meet their reporting obligations effectively. Here's how we handle REMIT reporting for our customers:
-
Agreement and onboarding:
- Upon joining our platform, participants sign the Etpa REMIT Reporting Agreement, which delegates the responsibility of reporting energy market transactions to us.
- This ensures compliance with Article 6(1) of the Implementing Acts, mandating the use of RRMs for submitting trade data to ACER.
-
Data collection:
- Etpa collects all necessary trade data, including standard contracts and lifecycle events (modifications or terminations), from transactions conducted on our platform.
- Static data such as participant IDs and trading capacities are maintained to ensure accurate submissions.
-
Validation and submission:
- Trade data is validated against ACER's technical requirements, ensuring accuracy and compliance.
- Once validated, Etpa submits the data to ACER via its ARIS (ACER REMIT Information System) interface, meeting all reporting deadlines.
-
Error handling:
- Any errors identified by ACER are promptly communicated to the participant.
- We collaborate with you to rectify discrepancies and ensure resubmission of corrected data.
-
Transparent communication:
- Participants are kept informed of all submissions, errors, and updates through dedicated notifications and support channels.
-
Support and maintenance:
- Etpa ensures your reporting data remains up-to-date, adapting to any regulatory changes.
- Our team is available to assist with any additional requests from ACER or national regulatory authorities (NRAs).
What participants do need to provide
To ensure smooth REMIT reporting, participants must:
Provide initial details:
- Market Participant ID, company details, and trading capacity (principal or agent).
Keep information updated:
- Notify Etpa promptly of any changes to organization details or contact information.
Supply additional data if neccesary):
- Share non-standard transaction or lifecycle event details not captured on the Etpa platform.
Support error resolution:
- Assist in verifying or correcting data if discrepancies arise.
More information on what is required from participants can be found in the Etpa REMIT Reporting Agreement
Steps to get started with Etpa REMIT reporting
- Sign the reporting agreement: You'll receive the agreement via email as an e-signing document.
- Provide necessary details: Submit static data like your Market Participant ID and contact information. The necessary steps can be found here.
- Begin trading: Once onboarded, all eligible transactions will automatically be included in the reporting process.
Our streamlined process ensures compliance, data integrity, and market transparency. If you have further questions or need assistance, contact our support team.