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The European Power Exchange EPEX SPOT today announces the go-live of its data reporting mechanism in Switzerland. EPEX SPOT now delivers data for ElCom, the Swiss electricity regulator, on transactions completed by its Swiss-based market participants.
The European Regulation on Market Integrity and Transparency (REMIT) became effective as of 7 October 2015. REMIT requires market participants to report wholesale energy market contracts to ACER, aiming to ensure greater transparency in wholesale energy markets. As an ACER approved Registered Reporting Mechanism (RRM), EPEX SPOT offers data reporting services for all orders and transactions concluded on the EPEX SPOT markets, reporting all trading data to ACER on behalf of the market participants.
Switzerland being surrounded by various European countries and energy markets and intending to promote market integration and transparency, the Swiss regulation and article 26a of the Electricity Supply Ordinance (ESO) require the perimeter of data covered by REMIT to be reported to the Swiss electricity regulator ElCom for Swiss-based market participants. EPEX SPOT now provides a full reporting suite for the Swiss market participants and supports them in fulfilling their reporting obligations towards ACER as well as ElCom.
“This additional data reporting service strengthens the existing long and fruitful relationship between EPEX SPOT and ElCom and their market surveillance offices in particular”, says Wolfram Vogel, Director Public and Regulatory Affairs of EPEX SPOT. “The European Power Exchange continues its dedication to contribute to transparency of the Swiss energy wholesale market while keeping complexity low for its market participants.”
