IBEX Base (18.10.2018) : 161.00 BGN, 18910.30 MWh, IBEX Peak (18.10.2018) : 195.03 BGN 9948.1 MWh, IBEX Off-Peak (18.10.2018) : 126.97 BGN 8962.2 MWh
 
 
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Phase 2

REMIT PHASE 2

Data reporting for contracts concluded outside the Organised Market Places

 
In accordance to Article 8 (1) of  Regulation No 1227/2011 of the European Parliament and of the Council of  25 October 2011 on wholesale energy market integrity and transparency (REMIT), all market participants or third parties acting on their behalf shall report details of the transactions they concluded with wholesale energy products to ACER, including orders to trade.

In order to implement Article 8(2) and Article 8(6) of REMIT, Commission Implementing Regulation (EU) No 1348/2014 of 17 December 2014 was adopted. This Regulation gives exact information about the particular details of reporting information on wholesale energy products that are subject to reporting, the appropriate reporting channels for transactions and the timing of reporting of transactions.  

In accordance to Article 12 of the Commission Implementing Regulation the obligation for transaction reporting is divided into two phases. Phase one has started on 7 October 2015 and it covers the reporting of trades taking place on the organized energy markets, and phase two, starting on 7 April 2016 that covers the reporting of all other transactions.

According to Article 6 of the Commission Implementing Regulation, the market participants or third parties acting on their behalf are obliged to report detailed data of the contracts for wholesale energy products, concluded outside the organized energy markets as described in Article 3 of REMIT.
 
Contracts, subject to reporting, in relation to the supply of electricity

  •  Intraday or within-day contracts for the supply of electricity where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded.
  • Day-ahead contracts for the supply of electricity where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded.
  • Two-days-ahead contracts for the supply of electricity where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded.
  • Week-end contracts for the supply of electricity where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded.
  • After-day contracts for the supply of electricity where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded.
  • Other contracts for the supply of electricity with a delivery period longer than two days where delivery is in the Union irrespective of where and how they are traded, in particular regardless of whether they are auctioned or continuously traded.
  • Contracts for the supply of electricity to a single consumption unit with a technical capability to consume 600 GWh/year or more.
  • Options, futures, swaps and any other derivatives of contracts relating to electricity produced, traded or delivered in the Union.
 
Timing of reporting of transactions in accordance with Article 7 of the Commission Implementing Regulation

  • Details of standard contracts and orders to trade, including for auctions, shall be reported as soon as possible but no later than on the working day following the conclusion of the contract or placement of the order.
Any modification or the termination of the concluded contract or order to trade shall be reported as soon as possible but no later than the working day following the modification or termination.
  •  In the case of auction markets where orders are not made publicly visible, only concluded contracts and final orders shall be reported. They shall be reported no later than on the working day following the auction..
  • Orders placed in brokers' voice operated services and not appearing on electronic screens shall be reportable onlyupon request of the Agency.
  • Details of non-standard contracts including any modification or the termination of the contract and transactions referred to in the second subparagraph of Article 5(1) shall be reported no later than one month following the conclusion, modification or termination of the contract.
  • Details of wholesale energy contracts which were concluded before the date on which the reporting obligation becomes applicable and remain outstanding on that date shall be reported to the Agency within 90 days after the reporting obligation becomes applicable for those contracts.

Details of reportable contracts by IBEX, including orders to trade

Standard contract“, means a contract concerning a wholesale energy product admitted to trading at an organized market place, irrespective of whether or not the transaction actually takes place on that market place. The information to be reported pursuant to Article 3 shall include the details is set out in Table 1 of the Annex to the Commission Implementing Regulation.
„Non-standard contract“, means a contract concerning any wholesale energy product that is not a standard contract. The information to be reported pursuant to Article 3 shall include the details is set out in Table 2 of the Annex to the Commission Implementing Regulation.

 
Services, offered by IBEX starting 7 April 2016

IBEX offers the following services for transaction reporting in accordance to Article 6 and Article 5(1) letters A and B, with regard to Article 3 of the Commission Implementing Regulation:

Service 1:
Direct reporting of trading data by accessing the RRM platform, provided by IBEX. The market participant reports the data from his own account by submitting sample files directly into the RRM platform. IBEX does not have access to the account of the market participant and the trading data. The receipt files from ACER are received by the market participant on his own account.
Monthly fee:  BGN 400 (VAT excl.)

Service 2:
Reporting of trading data by IBEX. The market participant sends sample files, containing his transactions’ data to IBEX and afterwards IBEX is submitting the data into the RRM platform. The market participant has no account in the RRM platform. The receipt files from ACER are received by IBEX and then forwarded to an e-mail address provided by the market participant.
Monthly fee:  BGN 200 (VAT excl.)
The market participants will be entitled to access the services as described above after signing a contract with IBEX
 
Should you require any additional information or if you have any questions please contact IBEX via e-mail: remit@ibex.bg or phone: +359 2 90 20 127.



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