Operations and user manual for the REMIT REGISTER

Transcription

1 Operations and user manual for the REMIT REGISTER Version 1.1 of 4 August

2 Contents 1. Introduction Who has to register? Reportable contracts Fundamental data to be reported Further useful information Who has to register with the Authority? When to register How to register What happens if you are not registered? Registration procedure Access to the Operator Database How to access the REMIT section REMIT accreditation Section 1 - Accreditation Personal data management (Compulsory) Section 2 - Accreditation Persons management (Compulsory) Section 3 - Accreditation - Beneficiaries/controllers management (Compulsory) Section 4 - Accreditation corporate structure management Section 5 - Accreditation Delegates management Accreditation - Summary Registration notification REMIT Register after registration Requests for information Annex

3 1. Introduction Regulation no. 1227/2011 of the European Parliament and Council of 25 October 2011, concerning the wholesale Energy Market Integrity and Transparency (hereinafter: REMIT), establishes rules to prohibit unlawful practices capable of influencing the wholesale energy markets and institutes the monitoring of wholesale energy by the Agency for the Cooperation of Energy Regulators (hereinafter: ACER), in collaboration with the national regulatory authorities. Article 8 of the REMIT establishes certain information obligations required to market participants, understood to be the persons, including the operators of transmission systems, who perform operations, including the transmission of orders to trade, in one or more wholesale energy markets (Art. 2, par. 7 of the REMIT). Pursuant to this same article, the European Commission, with its own Regulation (EU) no. 1348/2014 of 17 December 2014 (hereinafter: Implementing Acts), identified the information that market participants must submit to ACER relative to wholesale energy products and fundamental data 1. The Implementing Acts identify the market participants subject to the obligation to report information to ACER (hereinafter: reporting obligation). The information to be reported is indicated in paragraphs 2.1 and 2.2 of this manual. In order to allow the efficient implementation of data collection activities by ACER, Article 9 of the REMIT establishes that market participants subject to the reporting obligation must register with the national regulatory authority in the Member State in which they are established or resident or, if they are not established or resident in the Union, in a Member State in which they are active. Each market participant registers with a single national regulatory authority, based on the rule indicated in paragraph 2.4 below. No later than three months after the date in which the European Commission adopts the Implementing Acts (17 December 2014), the national regulatory authorities shall establish national registers of the market participants and transfer the information contained to the European register instituted by ACER. With resolution 86/2015/com, the Italian Regulatory Authority for Electricity Gas and Water has instituted the Italian register of market participants (hereinafter: REMIT Register). This user manual illustrates the registration requirements and deadlines, as well as the method of access and use of the REMIT Register. You can find more information about REMIT Register in the Question & Answers published on the web site: 1 Fundamental data is information regarding the capacity and use of production plants, storage, consumption or transmission of electricity or natural gas, or regarding the capacity and use of LNG plants, including any planned or unplanned unavailability of such plants, necessary for the purpose of monitoring negotiations in wholesale energy markets. 3

4 2. Who has to register? The obligation to register is directly related to the reporting obligation. A market participant is obliged to register only if it concludes transactions that must be reported to ACER pursuant to Article 8 of the REMIT. REMIT - Article 8, paragraph 1 1. Market participants, or a person or authority listed in points (b) to (f) of paragraph 4 on their behalf, shall provide the Agency with a record of wholesale energy market transactions, including orders to trade. The information reported shall include the precise identification of the wholesale energy products bought and sold, the price and quantity agreed, the dates and times of execution, the parties to the transaction and the beneficiaries of the transaction and any other relevant information. While overall responsibility lies with market participants, once the required information is received from a person or authority listed in points (b) to (f) of paragraph 4, the reporting obligation on the market participant in question shall be considered to be fulfilled. REMIT - Article 8, paragraph 5 5. Market participants shall provide the Agency and national regulatory authorities with information related to the capacity and use of facilities for production, storage, consumption or transmission of electricity or natural gas or related to the capacity and use of LNG facilities, including planned or unplanned unavailability of these facilities, for the purpose of monitoring trading in wholesale energy markets. The reporting obligations on market participants shall be minimised by collecting the required information or parts thereof from existing sources where possible. Article 10, paragraph 2 of the Implementing Acts specifies that, in reporting information, the market participant identifies itself, or is identified by the third party that undertakes the reporting on his behalf, using the ACER registration code that the market participant received upon registration or using the unique market participant code that the market participant provided during registration. Therefore, registration and in particular identification via code is a necessary condition for the fulfilment of reporting obligations. 2.1 Reportable contracts Article 3 of the Implementing Acts reproduced for convenience in Annex 1 identifies the list of contracts to be reported to ACER as part of the reporting obligation. Article 4 of the Implementing Acts establishes further contracts to be reported upon request by ACER. Implementing Acts - Article 4 4

5 1. Unless concluded on organised markets, the following contracts and details of transactions in relation to those contracts shall be reportable only upon reasoned request of the Agency and on an ad-hoc basis: a) Intragroup contracts, b) Contracts for the physical delivery of electricity produced by a single production unit with a capacity equal to or less than 10 MW or by production units with a combined capacity equal to or less than 10 MW, c) Contracts for the physical delivery of natural gas produced by a single natural gas production facility with a production capacity equal to or less than 20 MW, d) Contracts for balancing services in electricity and natural gas. 2. Market participants only engaging in transactions in relation to the contracts referred to in points (b) and (c) of paragraph 1 shall not be required to register with the national regulatory authority pursuant to Article 9(1) of Regulation (EU) No 1227/ Fundamental data to be reported Article 9 of the Implementing Acts introduces further reporting obligations for market participants with regard to fundamental data on LNG systems and natural gas storage systems. Implementing Acts Article 9, paragraph 5 Market participants or LNG System Operators on their behalf shall report to the Agency and, at their request, to national regulatory authorities for each LNG facility the following information: a) in relation to unloading and reloading of cargos: (i) date of unloading or reloading, (ii) volumes unloaded or reloaded per ship, (iii) the name of the terminal customer, (iv) name and size of the ship using the facility. b) the planned unloading or reloading at the LNG facilities in a daily resolution for the next month specifying the market participant and the name of the terminal customer (if different from the market participant). Implementing Acts Article 9, paragraph 9 Market participants or Storage System Operators on their behalf shall report to the Agency and, at their request, to national regulatory authorities the amount of gas the market participant has stored at the end of the gas day. This information shall be made available no later than the following working day. In summary, a market participant is obliged to register if: a) it carries out operations relative to one or more of the contracts listed in Annex 1; 5

6 b) it is part of one or more intragroup contracts 2 concluded outside of an organised market place; c) it is part of one or more contracts balancing services in electricity and natural gas concluded outside of an organised market place; d) it is obliged to report fundamental data relative to LNG systems and storage systems pursuant to Article 9 of the Implementing Acts. A market participant is exempt from the obligation to register if it undertakes only operations relating to: a) contracts for the physical delivery of electricity produced by a production plant or unit with a capacity equal to or of less than 10 W or by multiple production plants or units with a total capacity equal to or of less than 10 MW; b) contracts for the physical supply of natural gas produced by a single natural gas production plant with a production capacity equal to or of less than 20 MW. 2.3 Further useful information In order to facilitate accounting, ACER drafts, publishes and regularly updates a list of organised markets, available on the web page In order to facilitate accounting, final customers that are part of a contract for the supply of natural gas or electricity in a single consumption unit with a technical consumption capacity of 600 GWh/year or more shall inform the counterparty of this technical capacity of the unit to consume 600 GWh/year or more. 2.4 Who has to register with the Authority? Article 9 of the REMIT establishes that a participant must register with the national regulatory authority in the Member State in which they are established or resident or, if they are not established or resident in the Union, in a Member State in which they are active. A participant that is not established or resident in the European Union and that operates only in Italy shall register with the Italian Authority. A participant that is not established or resident in the European Union and that operates in multiple Member States may choose the authority with which to register. A market participant shall register only with one national regulatory authority. Member States shall not require a market participant already registered in another Member State to register again. 2 An intragroup contract is, pursuant to Article 2, paragraph 6, of the Implementing Acts, a contract on wholesale energy products entered into with a counterparty which is part of the same group provided that both counterparties are included in the same consolidation on a full basis. The definition of group is that according to Article 2 of Directive 2013/34/EU of the European Parliament and Council. 6

7 3. When to register The Implementing Acts establish the following deadlines relative to the reporting obligation: Table 1 Reporting obligation start dates Ref. Implementing Party under Reporting Acts obligation Start date 1 Article 9, paragraph 1 Capacity and use of systems for ENTSO-gas 7 October 2015 transporting natural gas 2 Article 6, paragraph 1 Operations in organised market Market participant 7 October 2015 places 3 3 Article 8, paragraph 1 Fundamental electricity data ENTSO-electricity 7 October Article 6, paragraph 2 5 Article 6, paragraph 3 Transport contracts concluded as a result of a primary explicit capacity allocation Contracts concluded outside of an organised market place Final nominations between Electricity TSO and gas TSO 7 April 2016 Market participant 7 April Article 8, paragraph 3 Electricity TSO 7 April 2016 bidding zones 5 Day-ahead nominations and final Gas TSO 7 April Article 9, paragraph 2 re-nominations of booked capacities 6 8 Article 9, paragraph 3 GNL system fundamental data GNL system operator 7 April Article 9, paragraph 5 GNL system market data Market participant 7 April Article 9, paragraph 7 Gas storage system fundamental Storage system 7 April 2016 data operator 11 Article 9, paragraph 9 Gas storage system market data Market participant 7 April 2016 Operations on organised market Market participant 7 April Article 6, paragraph 1 places relative to the transport of electricity or natural gas The REMIT establishes that the market participants must submit the registration form to the national regulatory authority before undertaking any operations subject to the reporting obligation. Market participants may register as of 17 March 2015 and within the following deadlines: by 6 October 2015, for those who wish to carry out operations on organised markets as of this date; by the day before that on which the participant intends to begin operating on organised markets, after 7 October 2015; by 6 April 2016, for those who intend to carry out any other operation that is to be reported (lines 5, 8, 11 and 12 of Table 1), as of this date; by the day before that on which the participant intends to begin any other operations to be reported (lines 5, 9, 11 and 12 of Table 1), after 7 April Except for wholesale energy products relating to the transport of electricity or natural gas. 4 In any case, not before the central platform for information transparency is operating in compliance with Article 3, paragraph 3 or the EU Regulation no. 543/ Pursuant to Article 8, paragraph 5, of the Regulation (EU) no. 1227/ Pursuant to Article 8, paragraph 5, of the Regulation (EU) no. 1227/

8 4. How to register The Authority, subscribing to a specific implementation option offered by ACER, has developed the national register of market participants within its database of public service providers in the energy sector, established with the GOP 35/08 resolution (hereinafter: Operator Database). Companies already cleared for the Operator Database 7 may access the REMIT Register using the same credentials as for the Operator Database. Companies without clearance must first obtain clearance for the Operator Database. Part 6 of this manual includes a description of the procedure for the registration and insertion of required data in compliance with the provisions set out in ACER Decision no. 1/ Registered market participants are obliged to update promptly the information provided in the registration forms in the event of any changes. All national registers, including the Italian register, are interfaced with the European Register at ACER, which gathers in a single register all operators present in the national registers. Parts 1, 2, 3 and 5 can be filled in up to the date of the opening of the REMIT Register. According to that established by ACER Decision no. 1/2012, Part 4 of the REMIT Register will be available to operators only after the first publication by ACER of the list of market participants present in the European Register. 5. What happens if you are not registered? The Authority is assigned the task of enforcing the REMIT, including the power to subject to sanctions market participants who commit regulation violations 9. Pursuant to Article 9, paragraph 4 of the REMIT, market participants are obliged to register before carrying out any operations that are subject to the reporting obligation. As of 7 October 2015, the Italian Power Exchange (GME) will report to the Authority all operators active on the energy markets managed by the GME without registration on the REMIT register. An operator that operates on energy markets subject to the reporting obligation without being registered may receive an administrative fine of up to 200,000 Euro The User Manual of the Operator Database is available at the following link: 8 Available at the following link: 9 Cf. Article 22 of Italian law of 30 October 2014, no Article 22, paragraph 7 of Italian law no. 161/2014 establishes that, in the case of non-compliance with the information obligations set out by Articles 8 and 9 of Regulation no. 1227/2011, as well as in the case of the transmission of information that is incomplete, incorrect or not immediately updated, the Italian Regulatory Authority for Electricity Gas and Water may impose administrative fines of between 10,000 and 200,000 Euro. 8

9 6. Registration procedure 6.1 Access to the Operator Database To access the operator database, you must first login using your ID at the following website: Figure 1: login After logging in (Figure 1), a page will be displayed containing the various sections of the Database. Operators who are not cleared for the Database must proceed to registration by clicking on New Registration (Figure 2) on the page Operators cleared for the Database can find the entry REMIT in the homepage menu. 9

10 Figure 2: new Database registrations 6.2 How to access the REMIT section In the side menu, go to REMIT to access the Manage REMIT ( Gestione REMIT ) page (Figure 3). 10

11 Figure 3: Manage REMIT page 6.3 REMIT accreditation For operators registering for the first time, a link will appear to the REMIT Register registration procedure, consisting of steps each containing a section in which to enter information. No data is saved until you complete each section. There are compulsory and non-compulsory sections. 6.4 Section 1 - Accreditation Personal data management (Compulsory) The first section is Personal data management You must state whether you are registering a natural person or legal person and the information to be entered will vary as a result. Some fields are pre-compiled and cannot be edited. These fields are loaded by the Operator Database ( Edit personal data section or Manage corporate structure ). If you need to edit these fields, you must access the relevant section of the Operator Database, save the changes and return to the REMIT section. After entering all the compulsory information, highlighted with an asterisk, click on Next to access the following section. 6.5 Section 2 - Accreditation Persons management (Compulsory) The second section is Persons management. 11

12 Click on Add person to enter information for the person to be registered. At least one person must be entered for each role. Is admitted to indicate the same person for the three roles. For each person, you must state the start date in the role indicated. To delete a person, click on the red X alongside the name in question. After entering all the compulsory information, highlighted with an asterisk, click on Next to access the following section. 6.6 Section 3 - Accreditation - Beneficiaries/controllers management (Compulsory) The third section is Beneficiaries/controllers management. The beneficiary/controller is the natural or legal person that exercises significant influence on the market participant management by means of power of control over shares or through voting rights, regardless of whether the control is exercised directly or indirectly through the holding company. ACER regards a legal or natural person as an ultimate controller of a market participant if: It holds 10 % or more of the shares in the market participant or its parent OR It is able to exercise significant influence over the management of the market participant through a controlling interest in the market participant or its parent OR It is entitled to control or exercise control of 10 % or more of the voting power in the market participant or its parent OR It is able to exercise significant influence over the management of the market participant through their voting power in the market participant or its parent. In this section, you can enter a beneficiary or controller (or both). You must indicate at least one beneficiary or controller. If ownership of shares in a market participant is beneficially held by individuals who do not meet ultimate controller s criteria, the company itself will be its own ultimate controller and shall be inserted as ultimate controller. Click on Add beneficiary/controller to open the fields in which to enter the necessary information. For each beneficiary/controller, you must indicate the position start date. Selecting the field Type of beneficiary or controller (natural or legal person) alters the fields to be completed. Compulsory fields are highlighted by an asterisk. After entering all the compulsory information, highlighted with an asterisk, click on Next to access the following section. 6.7 Section 4 - Accreditation Corporate structure management The fourth section is Manage corporate structure. This section is non-compulsory until the first publication by ACER of the list of market participants pursuant to the REMIT. In this section, you indicate other market participants registered on the European Register (thus holders of an ACER code) that have a corporate relationship with the operator pursuant to the 7 th EC Directive 83/349/CEE of the Council of 13 June

13 To fill in this section, click on Add company to add an associated company. For each associated company, you must indicate in the drop-down menu the type of relationship, the ACER code of the company and the start date of the collaboration. You may only indicate operators already registered on the European REMIT Register and holders of an ACER code. To delete a company, click on the red X alongside the company in question. Click on Next to access the following section. 6.8 Section 5 - Accreditation Manage delegates The fifth section is Manage delegates. If the market participant intends to delegate the reporting to one or more third parties (Registered Reporting Mechanism, RRM), it must indicate them in this section. In the case of reporting delegates, click on Add delegate to add the necessary information. Those delegated to undertake reporting on behalf of third parties (such as, for example, the operator of an organised market) must have ACER approval, therefore selection is limited to a set list provided in a drop-down menu. Absence of the intended delegate indicates that ACER has not issued approval (permanently or temporarily). For each delegate, a position start date must be entered. In the case that the company intends to undertake the reporting autonomously (in full or in part) or wishes to apply to be a delegate RRM, it must fill in the field I wish to apply to be a delegate, thus activating the Registered Reporting Mechanism qualification procedure. Click on Next to access the following section. 6.9 Accreditation - Summary The final section is a summary window presenting all the previous sections with the data entered. Once you have checked the information, click on Save to send all the information and complete the registration on the REMIT Register. Click on Cancel to go back to the homepage and cancel the registration procedure Registration notification Once completed, registration must be validated by ACER. Therefore, there will be a period of time for which the registration will be pending. Validation is confirmed via sent to the person indicated in section 4.2 as the contact for communication with ACER (Figure 4). 13

14 Figure 4: Accreditation confirmation The will include the ACER code of the company (inside the red rectangle in Figure 4). 7. REMIT Register after registration Once the registration has been validated, the Manage REMIT link (Figure 3) will allow you to access the administration section. This section will display the ACER code of the company and the links to access each of the sections completed during registration. Section 1 Personal data Section 1 Personal data displays the information about the registered operator. You can edit the data entered by filling in the Data variation field which indicates the start date of the changes made. Click on Save or Cancel to save the changes or go back to the homepage. Section 2 Persons Section 2 Persons displays the registered persons and their relative assigned roles. If you want to add a new person, click on Add person, which takes you to a new page to fill in with the relative information. To edit the information of a registered person, click on Edit, which takes you to the page with all the previously entered information. Click on Delete to remove a person, on the condition that another person will fill the role being vacated. Section 3 Beneficiaries/Controllers Section 3 - Beneficiaries/Controllers displays the registered beneficiaries/controllers. 14

15 If you want to add a beneficiary/controller, click on Add beneficiary/controller, which takes you to a new page to fill in with the relative information. To edit the information of a registered beneficiary/controller, click on Edit, which takes you to the page with all the previously entered information. You can delete a beneficiary/controller using the Delete button. Section 4 Corporate structure Section 4 Corporate structure displays the corporate structure with a summary of the other associated market participants. If you want to add a beneficiary/controller, click on Add beneficiary/controller, which takes you to a new page to fill in with the relative information. For each associated company, you must indicate in the drop-down menu the type of relationship, the ACER code of the company and the start date of the collaboration. You may only indicate operators already registered on the European REMIT Register and holders of an ACER code. Section 5 Delegates Section 5 Delegates displays the delegates chosen by the operator to undertake the reporting obligation. It is possible to request that the operator be identified as the delegate (and thus appear on the list of delegates, available to other operators). Complete the field I wish to apply to be a delegate and click on Save to submit the request for approval by ACER. If you want to add a new delegate, click on Add delegate, which takes you to a new page to fill in with the relative information. Those delegated to undertake reporting on behalf of third parties (such as, for example, the operator of an organised market) must have ACER approval, therefore selection is limited to a set list provided in a drop-down menu. Absence of the intended delegate indicates that ACER has not issued approval (permanently or temporarily). For each delegate, a position start date must be entered. 8. Requests for information For information and technical support, contact the free phone number: 15

16 active from Monday to Friday from 9 am to 1 pm and from 2 pm to 6 pm. Or you can send an to: infoanagrafica@autorita.energia.it For further information on the data to be entered in the Register, send any queries via to remit@autorita.energia.it or call the number +39 (0) All communication must include the company name, VAT number and a contact telephone number. 16

17 Annex 1 Implementing Acts, Article 3 List of reportable contracts 1. The following contracts shall be reported to the Agency: a) As regards wholesale energy products in relation to the supply of electricity or natural gas with delivery in the Union: i) Intraday or within-day contracts for the supply of electricity or natural gas where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded, ii) Day-ahead contracts for the supply of electricity or natural gas where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded, iii) Two-days-ahead contracts for the supply of electricity or natural gas where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded, iv) Week-end contracts for the supply of electricity or natural gas where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded, v) After-day contracts for the supply of electricity or natural gas where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded, vi) Other contracts for the supply of electricity or natural gas with a delivery period longer than two days where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded, vii) Contracts for the supply of electricity or natural gas to a single consumption unit with a technical capability to consume 600 GWh/year or more, viii) Options, futures, swaps and any other derivatives of contracts relating to electricity or natural gas produced, traded or delivered in the Union. b) Wholesale energy products in relation to the transportation of electricity or natural gas in the Union: i) Contracts relating to the transportation of electricity or natural gas in the Union between two or more locations or bidding zones concluded as a result of a primary explicit capacity allocation by or on behalf of the TSO, specifying physical or financial capacity rights or obligations, ii) Contracts relating to the transportation of electricity or natural gas in the Union between two or more locations or bidding zones concluded between market participants on secondary markets, specifying physical or financial capacity rights or obligations, including resale and transfer of such contracts, iii) Options, futures, swaps and any other derivatives of contracts relating to the transportation of electricity or natural gas in the Union. 17