REMIT Reporting Services and Solutions - July 2015 updated March 2016
Fundamental data is usually sourced from TSOs and other system operators. It is usually the TSO that will be
required to send such data to ARIS. However, there are exceptions, such as gas in storage (See section 6.6) and when
handling LNG.
Finally, “derivatives” data that is reported under EMIR where a trade falls under both rule sets does not have to be
re-reported under REMIT. Instead it must be forwarded by the EMIR TR to ARIS. This will be examined in the next
section.
To summarise, there are in total five “routes” for data to reach ACER:
1)
2)
3)
4)
5)
Via an RRM
Via an EMIR TR
Using an Organised Market Place
Directly, if registered as an RRM
Fundamental data – using a System Operator or RRM
Note that some entity types outlined above may fulfil more than one role. For example some EMIR TRs will also act
as full RRMs, as will some OMPs. However not all EMIR TRs offer such a service and neither do most OMPs.
Each of these routes will be examined in more detail in later sections.
4.2 Which activity is included in REMIT?
REMIT covers the entire wholesale market in power, gas and LNG in the European Union, spanning both physical and
financial trading and fundamental data. The REMIT Implementing Act (Article 3(1)) lists the following types of
contract as being covered by REMIT:
Intraday or within-day contracts for the supply of electricity or natural gas where delivery is in the Union whether auctioned
or continuously traded,
Day-ahead contracts for the supply of electricity or natural gas where delivery is in the Union whether auctioned or
continuously traded,
Two-days-ahead contracts for the supply of electricity or natural gas where delivery is in the Union whether auctioned or
continuously traded,
Week-end contracts for the supply of electricity or natural gas where delivery is in the Union auctioned or continuously
traded,
After-day contracts for the supply of electricity or natural gas where delivery is in the Union irrespective of where and how
they are traded, in particular regardless of whether they are auctioned or continuously traded,
Other contracts for the supply of electricity or natural gas with a delivery period longer than two days where delivery is in the
Union whether auctioned or continuously traded,
Contracts for the supply of electricity or natural gas to a single consumption unit with a technical capability to consume 600
GWh/year or more,
Options, futures, swaps and any other derivatives of contracts relating to electricity or natural gas produced, traded or
delivered in the Union.
Contracts relating to the transportation of electricity or natural gas in the Union between two or more locations or bidding
zones concluded as a result of a primary explicit capacity allocation by or on behalf of the TSO specifying physical or financial
capacity rights or obligations,
Contracts relating to the transportation of electricity or natural gas in the Union between two or more locations or bidding
zones concluded between market participants on secondary markets, specifying physical or financial ca pacity rights or
obligations, including resale and transfer of such contracts,
Options, futures, swaps and any other derivatives of contracts relating to the transportation of electricity or natural gas in
the Union.
In short, ANY gas or power related wholesale contract is included under REMIT. However, there some important
subtleties about what is considered to be wholesale which will be examined in section 4.5.
Copyright 2016 – ETR Advisory Ltd and Commodity Technology Advisory LLC
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