Eurelectric has just published a response to ACER consultation on common schema for disclosure of inside information under REMIT. Eurelectric is the voice of the electricity industry in Europe, speaking for more than 3,500 companies in power generation, distribution, and supply.
The key messages of this Eurelectric response paper are:
-Eurelectric –the sector association representing the electricity industry at European level–welcomes the opportunity to provide its views on ACER’s proposal for a common schema for disclosure of inside information under REMIT.
-Regarding ACER’s proposal for a common schema for disclosure of inside information under REMIT, Eurelectric believes that no additional field should be added to the current proposal, but that several other fields should be removed or amended.
-Some of the fields or values in the proposal bring indeed no additional valuable information to the market, to the extent that they are redundant with other data fields. The inclusion of each field should always serve the underlying purpose of REMIT-i.e. bring value added to the market in terms of transparency-and the implementation costs should be proportionate to the regulatory benefits.
-Generally, Eurelectric does not seethe obligation to report onfield (20) "Impacton emission allowances prices” in a REMIT context. " At the same time, we appreciate ACER’s intention to create synergiesin the disclosureprocess under REMITand MAR. However, tothe extent that ESMA would not deem the current REMIT publication sufficient for the purposes of the MAR concerningemission allowances and for the purpose of avoidingdouble reporting, we would support retaining the proposed field, but only if it remains optional”, notes Eurelectric.
Should you wish to view and/or download the full document please visit the Publications page of Eurelectric website where the document is visible on top of the list
