Regulation on submission and publication of data in electricity markets

 

Commission Regulation 543/2013 of 14 June 2013 on submission and publication of data in electricity markets and amending Annex I to Regulation (EC) No 714/2009 of the European Parliament and of the Council, sometimes referred to as the "Transparency Regulation", entered into force in July 2013.

 

When it comes to issues of terminology, it is useful to note that the aggregate notion of "Transparency Regulations" is also in legal circulation, it is comprised of the aforementioned Commission Regulation 543/2013 and some other pieces of the Third Energy Package i.e.:

 

Regulation (EC) No 714/2009 of the European Parliament and of the Council of 13 July 2009 on conditions for access to the network for cross-border exchanges in electricity (OJ L 211, 14.08.2009, p. 15, as amended),

 

Regulation (EC) No 715/2009 of the European Parliament and of the Council of 13 July 2009 on conditions for access to the natural gas transmission networks and repealing Regulation (EC) No 1775/2005 (OJ L 211, 14.08.2009, p. 36, as amended).

 

The Transparency Regulation mandates the European Network of Transmission System Operators for Electricity (ENTSO-E) to establish and operate a central information transparency platform for the publication of fundamental electricity data.

  

See ENTSO-E Central Information Transparency Platform as well as other documentation (stakeholder involvement etc.) regarding ENTSO-E Transparency Platform.

 

Manual of procedures

 

Pursuant to the Article 5 of the Regulation the ENTSO for Electricity shall develop a manual specifying:
(a) details and format of the submission of data laid down in Article 4(1);
(b) standardised ways and formats of data communication and exchange between primary owners of data, TSOs, data providers and the ENTSO for Electricity;
(c) technical and operational criteria which data providers would need to fulfil when providingdata to the central information transparency platform;
(d) appropriate classification of production types referred to in Articles 14(1), 15(1) and 16(1).

 

See Manual of Procedures of the ENTSO-E Central Information Transparency Platform.

 

See also Transparency platforms

 

Interlinkages between Regulation on submission and publication of data in electricity markets, Regulation No 714/2009 and REMIT

 

"The 3rd edition of ACER's REMIT Guidance points to Article 2(1)(a) of REMIT, which states that information under the Transparency Regulation may also constitute a subset of inside information if it meets the criteria outlined in Article 2(1) of REMIT. We concur with this view.

 

As part of our ongoing monitoring activities we have identified a number of concerns regarding the timely and effective publication of data under the Transparency Regulation. We remind market participants that primary data owners have been obliged to comply with their obligations under Article 4 of the Transparency Regulation since 5 January of this year. We will continue to monitor compliance with the Transparency Regulation and ensure appropriate action is taken where required."

 

UK Ofgem document of 8 September 2015 Prohibition of market abuse under the Regulation on wholesale energy market integrity and transparency (EU) No 1227/2011 (REMIT)

 

 

Relation of the Regulation on submission and publication of data in electricity markets to the Regulation No 714/2009 and REMIT may rise some doubts as all the regulations mentioned lay down specific requirements on publishing data on the availability of networks, capacities of cross-border interconnectors and generation, load and network outages.

 

When it comes to the Regulation No 714/2009, in particular Article 15 thereof and point 5 of the Guidelines on the management and allocation of available transfer capacity of interconnections between national systems, set out in Annex I to that Regulation, are of relevance.

 

The Regulation on submission and publication of data in electricity markets contains a provision that the said legal act has been adopted on the basis of Regulation No 714/2009 which it supplements and of which it forms an integral part. Consequently, references to Regulation No 714/2009 in other legal acts are to be understood as also referring to Electricity Market Transparency Regulation.

  

Regulation on submission and publication of data in electricity markets makes also the relevant changes to the Annex I to Regulation (EC) No 714/2009.

Article 4(4) of REMIT, in turn, recognises that publication of inside information in accordance with Regulation (EC) No 714/2009 or 'guidelines adopted pursuant to it' constitute simultaneous, complete and effective public disclosure.

 

It seems thus that the Regulation on submission and publication of data in electricity markets will qualify as the 'guidelines' Article 4(4) of REMIT refers to, and the publication of inside information not only in accordance with the Regulation 714/2009, but also under Regulation on submission and publication of data in electricity markets, will constitute simultaneous, complete and effective public disclosure in the REMIT meaning.

 

 

 

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Last Updated on Tuesday, 30 August 2016 23:10
 

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