Ensuring Transparency and Integrity in European Energy Markets
The revised Regulation on Wholesale Energy Market Integrity and Transparency (REMIT II), introduces significant changes to enhance the transparency and integrity of the European wholesale energy markets. Reg-X offers a comprehensive solution to help market participants navigate these new requirements with confidence.
What is REMIT II?
REMIT II expands upon the original REMIT framework, aiming to prevent market abuse and insider trading
in the EU’s wholesale energy markets. Key updates include:
01 Expanded Scope
Inclusion of LNG supply contracts, storage contracts, and balancing market agreements within reporting obligations.
02 Enhanced Reporting Requirements
Market participants must report detailed information on transactions, including intermediate beneficiaries and exposures, to the Agency for the Cooperation of Energy Regulators (ACER).
03 Obligations for Non-EU Entities
Non-EU market participants active in EU energy markets are now subject to REMIT II, requiring them to appoint a designated representative within the EU.
04 Stricter Compliance Standards
Introduction of specific penalties for non-compliance, underscoring the importance of adhering to regulatory requirements.
Reg-X’s REMIT II Solution
Our platform is designed to streamline your compliance process:
- Automated Reporting: Seamless integration with your existing systems to automate the reporting of required data to equias or other RRMs and ACER.
- Data Enrichment: Enhancement of trade data with necessary identifiers, reference data and classifications to meet reporting standards.
- Dashboard: Comprehensive dashboard to monitor and track exceptions, ACK/NACKs and scope
- Expert Support: Access to our team of regulatory specialists for guidance on compliance strategies and obligations.
Benefits of Partnering with Reg-X
- Comprehensive Coverage: Support to OMPs and a wide range of energy products and contract types under REMIT II.
- Scalable Solutions: Our modular platform adapts to your business size and complexity.
- Regulatory Insight: Stay ahead with updates and insights on regulatory changes and best practices.
Stay Compliant with Confidence
Navigating the complexities of REMIT II can be challenging. Reg-X provides the tools and expertise to ensure your organisation remains compliant and operates with integrity in the evolving energy market landscape.
Contact us today to learn more about how Reg-X can support your REMIT II compliance needs.
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