Gas System Reports according to REMIT
16th August 2016 -
Electronic trading dispatching yCapacity has become the key trading instrument of Eustream, the Slovak Gas transmitter, in recent years. YMS specialists team has been developing and managing it for more than ten years. YMS experts constantly update the system based on customer requirements, which often follow new legislative regulations for natural gas trading. Lately, they have incorporated the European Regulation No. 1227/2011 – Regulation on wholesale energy market integrity and transparency, which is known by the acronym REMIT.
The Regulation entered into force on 1 April 2016. Nowadays, yCapacity (TIS - Transmission Information System) automatically reports data about transport capacity and natural gas transmission. Reports contain information on ordered capacities, nominations and allocations, i.e. on planned and actual quantity of transported gas. “Daily, TIS sends and receives several dozen messages. We set only the time and frequency of sending in the system. Other activities are performed automatically, and they eliminate newly established administration,” says Miroslav Hajach, Eustream business analyst. In addition to automatic products reporting relating to natural gas transportation, Eustream is ready to report other non-standard products at request of the regulator.
Eustream, as each transporter, has a notification obligation to Agency for the Cooperation of Energy Regulators (ACER). The required report is not sent not directly to ACER-in, but through the Registered Reporting Mechanism (RRM). RRM provides technical report processing. In practice TIS generates required data and converts them into an Excel file. RRM verifies received data and sends them to the ACER information system. TIS also receives returned messages from RRM, which certify whether the report is correct or whether there are any technical or validation errors.
REMIT was created to increase transparency and improve control of how the capacity is allocated in energy markets. The main goal is to prevent manipulation in the markets, misuse of insider information (i.e. Insider trading) or disruption of market integrity. “Implementation of legislative changes means a challenge for many companies. Thanks to the long-term cooperation with Eustream, we have created a professionally and technically skilled team, which brought another project to a successful conclusion. We have included REMIT regulation into the TIS completely and within the required deadline,” concludes Zuzana Palšovičová, YMS business analyst and yCapacity team leader.