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01 Apr 2015 |
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Remit: Platform for the service of data reporting and Platform for disclosure of confidential information |
DATA REPORTING SERVICE
In order to implement the provisions under Article 8 of the European Regulation 1227/2011 of the European Parliament and of the Council dated October 25, 2011 on the integrity and transparency of wholesale energy market (REMIT) and Article 6 of the Commission Implementing Regulation (EU) No. 1348/2014 dated December 17, 2014 (Implementing Acts) on the compliance with the obligation of reporting the data and information about those transactions carried out on wholesale energy products towards ACER, GME announces that it will offer a service of data reporting as Register Reporting Mechanism (RRM) as complete as possible, thus allowing operators interacting with a single source to fulfill their obligation to report. Below please find the essential features of the service and the dedicated platform currently being implemented by GME, whose operational details will be disclosed by GME in the coming months.
SCOPE AND TYPES OF SERVICES
The Data Reporting service made available by GME will be exclusively addressed to those entities who have previously acquired the status of operator within the energy markets/platforms managed by GME and who may ask GME for the activation of one of the reporting services offered.
With reference to the type of data subject to reporting- to which it corresponds a specific service - GME intends to recognize the right to operators wishing to make use of intermediation of GME, in terms of preparation of the report and in terms of its forwarding to ACER, to specify, during the activation of the service and subject to the possibility of subsequent changes, its scope, that is, if it should cover only those transactions carried out in the markets of GME or even those carried out on other markets/platforms. In the latter case, the operator must provide GME with all data and information necessary for the performance of the reporting service.
In order to make it easier the compliance with the obligation of reporting towards ACER also by those operators who do not intend to make use of GME for the transmission of the pertaining data, GME will make available a special service to such operators, thus allowing them to obtain, already in ACER format, the data and information related to the trading orders and the transactions submitted/concluded by them within the markets/platforms of GME. Finally, it should also be noted that GME will still be available to those wishing to autonomously (or through entities other than GME) take care of the reporting of data pertaining to them to ACER, all data and information necessary for the purpose [1].
FUNCTIONALITY OF THE DATA REPORTING PLATFORM
Depending on the type of service required, the Data Reporting Platform (PDR) organized and managed by GME will transmit those contracts registered at GME to ACER in the format specified by ACER for the purpose of reporting data and will allow operators:
i. uploading, for the purposes of the preparation of the daily report, any contracts concluded outside the markets/platforms of the GME, provided that thy are in ACER format;
ii. viewing the daily report in ACER format, prepared by GME, containing the data and information on the transactions carried out on the wholesale energy markets managed by GME and outside (depending on the service requested by the operator to GME);
iii. downloading the report containing the contracts concluded/registered at the markets of GME already in the format required by ACER, including the trading orders, in order to transmit the report to ACER independently or through the intermediation of another RRM;
iv. receiving the certificates of receipt from GME, namely those certificate that the ACER system will return to RRM to certify the correct receipt of the data.
As known, GME, already registered at ACER in the list of OMP (Organized market places), will register in order to obtain the status of RRM or of entity authorized to offer the service of data reporting in compliance with the requirements set by ACER.
The obligation to collect at ACER data on standard contracts and related trading orders will start on October 7, 2015, as defined by Art. 12 of the Implementing Acts.
PLATFORM FOR DISCLOSURE OF CONFINDENTIAL INFORMATION UNDER ARTICLE 4 OF REMIT
GME also states that the it will offer the operators a service for the disclosure of confidential information, by providing a platform for the publication of such information, through which the operators can fulfill the obligations imposed on them by REMIT regarding timely and effective publication of confidential information (Article 4), but also the transmission of such information to ACER and the National Regulatory Authorities (Article 8).
This service will simplify the compliance with the compulsory publication of the confidential information by the operators, will be a valuable tool for transparency and will facilitate the monitoring of insider trading phenomena by GME, AEEGSI and ACER.
Through this platform, GME will provide the operators with the following services:
a. uploading of confidential information;
b. publication of confidential information in the public section of the platform website;
c. prompt transmission of the confidential information to ACER as well as the notifications of any justified delay in the publication by the operators;
d. storage of the confidential information published and possibility to download for the operators.
Access to the aforementioned platform will be reserved for all the operators of the markets/platforms of GME, as well as for all operators that are active in other organized wholesale energy markets and balance markets, in order to encourage the widest possible participation and ensure the efficient centralization of information.
Finally, GME states that it was set up a new section of its website dedicated to monitoring where the information on the activities of the GME in this area will be included and accessible to all the interested parties, in order to ensure the compliance with the market rules, as well as the compliance with the procedures required by the regulations of the sector (i.e. TIMM and REMIT).
[1] It should be noted that, for the operators who do not wish to avail themselves of the services offered by GME, all the data required to meet the obligation in any case will continue to be available on the operating platforms of the market based on the usual procedures and formats.
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Gestore dei Mercati Energetici S.p.A.
Sole Shareholder: Gestore dei Servizi Energetici - GSE S.p.A., as per art. 5, Legislative Decree 79/99
Company subject to the management and coordination of Gestore dei Servizi Energetici – GSE S.p.A.
Share Capital: € 7,500,000.00 fully paid up
Registered Office - Viale Maresciallo Pilsudski, 122/124, 00197 Rome tel.no. +39-06-80121, fax no. +39-06-80124524, email: info@mercatoelettrico.org
Rome Companies' Register, VAT and Taxpayer's Code: 06208031002 Rome Economic and Administrative Index: 953866
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