REMIT Reporting Services and Solutions - July 2015 updated March 2016
6.2.6.6 Reporting and audit
A software package should offer functionality to store and “historise” any data sent to it, transformed by it, sent out
of it, and any responses received. It should be possible for a snapshot of the state of the data to be taken at any
point and to be able to replay all interactions through it. Such functionality is vital to a software package, since it
permits the user to “prove” what has taken place on site, and how the market participant has complied with the
rules. This will be especially important if an external audit, by a regular or another entity, requires information on
why data was sent in a certain way, and also provides “protection” in the case of an investigation. Such
investigations could cover reporting of data or alleged abuse.
Under REMIT a regulator may also ask for more information about data. Having a system with appropriate
functionality in place will permit the market participant to be able to respond to such requests quickly.
REMIT has four categories of data that are not to be reported, but which must be made available “on request to
regulators, as outlined in section 4.4. These are:
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Trades between internal entities
Trades made with a power production unit with less than 10Mw of installed capacity
Trades made with a gas production unit with less than 20Mw of installed capacity
“Balancing” trades
It is useful, although not essential for a system to be able to store these so that they can be given to a regulator. If
the software does not offer this functionality, it is still possible to obtain the data using other means, such as by
pulling data from source systems. This is feasible since the data does not have to be reported as a matter of course.
Getting such data into the system will also require effort. Users should consider the pros and cons of storing such
data in the software.
In addition to audit functionality, most software will offer a variety of reports into status, the quality of the data and
the ability to drill into it. Some packages will also offer the ability to write custom reports.
Copyright 2016 – ETR Advisory Ltd and Commodity Technology Advisory LLC
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