The European Union Agency for the Cooperation of Energy Regulators (ACER) has issued updated guidance on the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT). These updates, presented in the latest Questions and Answers (Q&As) document, provide further clarification on transaction reporting, market surveillance expectations, and the interplay between REMIT and other financial regulations.

As regulatory scrutiny continues to grow, firms operating in the wholesale energy markets must ensure they fully understand these updates and their implications for compliance. Having the right processes and tools in place is key to ensuring seamless reporting and avoiding regulatory breaches.

Key Takeaways from ACER’s Q&A Update

Clarifications on Transaction Reporting

ACER has refined its guidance on several key reporting fields, including:

• Unique Transaction Identifier (Field 31, Table 1) – Additional instructions on reporting lifecycle events.
• Contract Type (Field 23, Table 1) – Clarifications on classifying non-standard contracts.
• Delivery Point or Zone (Field 48, Table 1) – More details on location-based reporting obligations.

Firms should review their transaction reporting processes to ensure alignment with these updates. Inaccurate or incomplete reporting can lead to compliance breaches, making it essential to have reliable record-keeping and validation mechanisms in place.

Strengthened Guidance on Market Manipulation

The updated Q&As emphasize the importance of robust surveillance to detect and prevent market abuse, particularly in areas such as:

• Insider trading risks – Ensuring sensitive market information is handled appropriately.
• Misleading disclosures – Avoiding practices that could distort market perception.

To stay compliant, firms must ensure their monitoring systems can effectively detect anomalies. Reg-X Innovations provides automated record-keeping solutions that help firms maintain a transparent and auditable transaction history, supporting firms in meeting regulatory expectations.

Emphasis on Data Quality and Submission Standards

ACER continues to stress the need for high-quality data submissions, offering further clarification on:

• Transaction Timestamp (Field 30, Table 1) – Ensuring accurate time recordings.
• Price (Field 35, Table 1) and Notional Amount (Field 38, Table 1) – Addressing common reporting errors and improving data accuracy.

With regulators closely scrutinising the completeness and accuracy of reports, firms need robust data validation and reconciliation processes. Automating these processes, as offered by platforms like Reg-X, can reduce errors and ensure compliance with evolving regulatory standards.

Interplay Between REMIT, EMIR, and MiFID II

The Q&As also provide further insights into how REMIT reporting interacts with other EU financial regulations, such as EMIR and MiFID II. Many firms face overlapping reporting requirements, making it crucial to assess whether their compliance processes are aligned across multiple regulations.

By leveraging a unified approach to regulatory reporting, firms can reduce duplication and improve efficiency. Reg-X’s automated record-keeping platform supports multi-regulation compliance, helping firms meet their obligations under REMIT, EMIR, and MiFID II with greater ease.

Next Steps for Market Participants

Energy traders, market operators, and other entities subject to REMIT should carefully review these updates and assess their compliance frameworks. With ACER increasing its focus on accurate reporting and market surveillance, firms must proactively address any gaps.

Reg-X Innovations provides automated regulatory reporting and record-keeping solutions designed to help firms streamline REMIT II compliance and maintain a clear audit trail. With regulatory expectations evolving, having the right technology in place can make all the difference in ensuring compliance efficiency.

For further details, refer to ACER’s official update on REMIT Q&As.

Navigating evolving REMIT requirements alongside other regulatory obligations can be challenging, especially as regulators place increasing emphasis on data quality, surveillance, and cross-regulation alignment.

At Reg-X Innovations, we work closely with firms to simplify this complexity. Whether you need to enhance your reporting accuracy, automate your record-keeping, or reduce the operational burden of compliance, our solutions are built to support you at every step.

Reach out to Reg-X Innovations today to learn how our regulatory reporting technology and compliance services can help your organisation stay ahead of regulatory change and operate with confidence.