REMIT report service

Transparency is essential and is one of the basic characteristics of any market, especially for organized markets. Its existence is a necessary condition for efficient price formation and, therefore, maintaining confidence in the market.

Since December 2011, there has been a new regulatory framework at the European level on integrity and transparency in the wholesale energy market that establishes norms that prohibit abusive practices that affect the wholesale energy markets and assigns monitoring and supervision of said markets to ACER in close collaboration with national regulatory authorities. These norms are set forth in the COMMISSION IMPLEMENTING REGULATION (EU) No 1348/2014 of 17 December 2014.

REMIT Regulation establishes obligations for reporting transactions made on organized markets, whether they are regulated short-term markets, like OMIE, or regulated futures markets, like OMIP. It also establishes obligations for reporting on non-standard electricity and natural gas contracts, and on fundamental information, understood to be information relative to the capacity and utilization of production, storage, consumption, or transportation facilities for electricity and natural gas, or relative to the capacity and utilization of GNL facilities, including the scheduled or unscheduled unavailability of those facilities.

The obligations for reporting are set forth in the COMMISSION IMPLEMENTING REGULATION (EU) No 1348/2014 of 17 December 2014, regarding the communication of information per article 8, sections 2 and 6, of Regulation (EU) no 1227/2011 by the European Parliament and the European Council on Wholesale Energy Market Integrity and Transparency.

Since October 16, 2019, the Iberian Market Operator for energy (OMI) has offered an integrated service for REMIT reporting that covers the different obligations for reporting. Specifically, it offers the following three REMIT reporting services:

  • The communication service for matched and unmatched orders on the Iberian day- ahead and intraday markets managed by OMIE.
  • The communication service for matched and unmatched orders on the Iberian futures intraday market managed by OMIP SGMR.
  • The communication service for non-standard contracts for electricity and natural gas and for essential information.

In order to offer this integrated REMIT reporting service, OMI has instituted a Registered Reporting Mechanism (RRM) for ACER called OMI RRM.

This new RRM (OMI RRM) is supported by the prior experience of the two RRMs that belong to the previously constituted group (RRM OMIE and RRM OMIP) as well as the vast experience and resources that OMIE and OMIP offer as regulated organized markets.

Details on each of these three services can be found on this page web.

For any details or general questions on REMIT reporting or on OMI RRM, please contact:

REMIT.reporting@grupoomi.eu