REMIT (Regulation (EU) No. 1227/2011 of the European Parliament and of the Council) is a regulation on the integrity and transparency of wholesale energy markets. It obliges market participants to provide the Agency for the Cooperation of Energy Regulators (ACER) with information about transactions, including orders to trade in wholesale energy markets.

REMIT prohibits insider trading and market manipulation. To detect such practices, ACER operates a pan-European market monitoring system, supported by the investigative powers of individual Member States.

Implementing Regulation (EU) No. 1348/2014

This complements REMIT by specifying the transaction data on wholesale electricity and gas markets that must be reported to ACER.

Who is considered a market participant under REMIT?

Any person executing transactions in one or more wholesale energy markets, including placing trade orders. This includes:

• Transmission or transport system operators
• Electricity and natural gas traders
• Electricity producers with an installed capacity of 10 MWe or more
• Gas producers with a capacity of 20 MW or more
• Electricity and gas consumers with an annual consumption capacity of 600 GWh or more when fully utilizing production facilities

Transaction reporting deadlines

Standard Contracts – from 7 October 2015
Includes:

• Trade orders and transactions executed via organized marketplaces
• In Slovakia: ISOT platform (operated by OKTE, a.s.) and SPX trading platform
• Reporting deadline: next business day after the trade order or transaction is submitted

Non-standard Contracts (OTC) – from 7 April 2016
Includes:

• All contracts not classified as standard
• Bilateral OTC contracts between market participants

Reporting deadline: within 1 month after the transaction is concluded, modified, or cancelled

Our services

• Analysis of standard and non-standard contracts in the context of REMIT
• Preparation of a customized REMIT compliance plan considering your trading relationships, with optimization recommendations
• Assessment of effort needed to transform non-standard contracts into ACER-compliant formats (based on selected RRM specifications)
• Design and implementation of the transformation of non-standard contracts for reporting to OKTE, a.s. (via XMtrade®/RRM)

Data reporting under the Energy Act and market rules

Legislation:

• Act No. 251/2012 Coll. on Energy
• Decree No. 24/2013 of the Regulatory Office for Network Industries (ÚRSO)

These require selected data to be reported to:

• Short-term electricity market operator (OKTE, a.s.)
• Transmission System Operator (SEPS, a.s.)
• Regional Distribution System Operators (RDS)

Entities required to report:

• Transmission system operators
• Regional distribution system operators
• Local distribution network operators
• Direct line operators
• Electricity producers

Data is reported to:

• OKTE, a.s. – via XMtrade®/ISOM, the metering operator’s information system
• PPS (Slovenská elektrizačná prenosová sústava,a.s.) -  via XMatik®.NET/ISOM, the business metering system
• RDS (Západoslovenská distribučná, a.s., Stredoslovenská distribúcia, a.s., Východoslovenská distribučná, a.s.) – via their respective information systems

Automated data submission from electricity producers to OKTE, a.s.

Provided in compliance with the Operating Rules of the short-term electricity market (OKTE, a.s.)

Key functionalities

I. Data collection from meters

• Automated collection at defined intervals, with retries if needed
• Supported meter types:
• Iskraemeco (MT174, MT382, MT880)
• Sanxing SX5A2
• Schrack (DIZ-G, DIZ S1ED/S1E3, DIZ W1ED, LZQJ-XC, S1E4)
• Supported communication protocols:
• DLMS/COSEM
• IEC 1107
• M-Bus
• Softlink WACO

Data recovery (Catch-Up collection):
In case of communication failures or first-time connection with a new meter, the system performs retroactive data collection. Manual initiation is also supported.

Notifications:
Electricity producers are not responsible for the data collection process. They are notified automatically via email (with .xls attachments) about successful or failed data submissions for each generation unit or metering point.

II. Communication with the market operator

Data export to OKTE’s short-term electricity market system is carried out in accordance with:

• Act No. 251/2012 Coll. on Energy
• Decree No. 24/2013 of ÚRSO

Export frequency, timing, and data content depend on the type of producer and the nature of the operated electricity generation facility.

Additional services we provide:

• Analysis of infrastructure in terms of reporting obligations (installed devices, lines, production units, consumption/delivery points, measurement types, etc.)
• Recommendations for ensuring full compliance with reporting legislation
• Oversight of correct parameter configuration in the operator’s metering system (XMtrade®/ISOM)
• Data quality analysis with corrective recommendations to reduce the impact of data inaccuracies on imbalance settlement and final consumption evaluation
• Network analysis in the context of IMS implementation and related obligations
• Consulting on the possibility of implementing automated data exchange
• Full implementation of automated data exchange