REMIT Consultation Response: Implementing Regulation

Read the full consultation response here.

Eurogas recently responded to two consultations on secondary legislation for REMIT: the implementing regulation and delegated act.

Regarding the implementing regulation, we think it is important to avoid unnecessary reporting burdens on market participants and to streamline and simplify the process while ensuring ACER receives the data needed to ensure market transparency and integrity. Simplification should include, for example, ensuring that market participants required to report data to their National Regulatory Authorities are not double reporting their data in different formats to different authorities, as this would create unnecessary administrative burdens for reporting entities.

To achieve these objectives, Eurogas puts forward 12 key areas of recommendations on the following crucial elements:

1. Timelines
2. Exposure reporting
3. Threshold for exposure reporting
4. Delivery point or zone
5. Transactions to be reported
6. "Backloading" requirements
7. OMP reporting obligations
8. Reporting channels for transactions
9. Alignment between power and gas provisions
10. Duplicated definitions
11. Definitions in general
12. Annex

Read the full consultation response below.