Regulation on Energy Market Integrity and Transparency (REMIT)

The Regulation on Energy Market Integrity and Transparency (REMIT) requires all wholesale electricity trades to be reported to the Agency for the Co-operation of Energy Regulators (ACER).

Both parties to a trade must report details (especially date, volume and price) but each party can nominate an agent to report on its behalf. The larger counter parties are normally willing to report on suppliers’ behalf.

Each trade must be reported within 28 days of the initial confirmation. In practice, reporting every 21 days captures all trades. Reporting every 28 days may result in late submissions if there is a delay between agreeing a trade and its confirmation after the event. Data must be submitted via a Trayport Complete account and in the required REMIT format.