REMIT progresses under ACER
Market participants can expect more guidelines from the EU's super-regulator on the Regulation for Energy Market Integrity and Transparency (REMIT), which seeks to integrate the carbon market into existing regulations, by the middle of this year.
The Agency for Cooperation of Energy Regulators (ACER) highlighted its priorities in implementing REMIT for the first half of this year at a workshop in Ljubljana on Thursday, presented by national expert Volker Zuleger.
REMIT urges the European Commission to split carbon regulation into a separate regime. "The Commission should consider bringing forward a legislative proposal to tackle the identified shortcomings in the transparency, integrity and supervision of the European carbon market in an appropriate time frame," according to the REMIT text.
It was adopted by the European Council in October 2011 and came into force on 28 December 2011, 20 days after its publication in the EU's official journal.
Energy trading firms are expected to be registered under the REMIT legislation during the second quarter of 2013, while ACER and national regulators are due to start data collection and monitoring from July next year. National regulators' competencies under REMIT should begin to be implemented into member states' law from summer next year.
ACER is expected to publish the data format for registration of market participants six months after the regulation came into force on 28 December last year. A public consultation on the registration format has been ongoing since 18 April, with a deadline of 21 May. ACER has now said that the formal publication of the format of the registration of market participants will be published on 29 June 2012.
Another priority for ACER is to submit its recommendations on the record of transactions and implementing acts, expected by the end of September. A public consultation is planned for June/July 2012, and the recommendations will then be submitted to the Commission. RB
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