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Waiting for the final act of REMIT

By Fionn O'Raghallaigh on 11-Sep-2014

One of the most important documents for energy companies this year will be the implementing acts for REMIT. Six months after they are published, companies will have to start reporting trades, as well as orders to trade. The European Commission was supposed to publish the acts by Q3, but missed this deadline.

At a meeting in Ljubljana in June, energy commissioner Günther Oettinger said in a statement he wanted to adopt the acts in the autumn.  Defining when is autumn is a tricky one. The UK met office has the somewhat arbitrary September to November. Astronomers have a different view. Anyway, despite the passage of three months, the commission is no closer to giving a firm date. A spokeswoman  for DG energy told me last week the acts could appear by November or December. So maybe the commission thinks autumn includes December. This means we are likely looking at May or June before energy companies have to start reporting their trades.

ACER, the agency charged with implementing REMIT, recently closed its consultation on its draft user manual for reporting trades. The manual is based on the commission’s draft implementing acts released in June. ACER will host a workshop in October on the draft manual, on a day yet to be announced.