Sapient, EEX Tackle REMIT Reporting
EEX's Transparency in Energy Markets platform, using capital markets and commodities expertise from Sapient, will allow exchange participants to report directly to the Agency for Cooperation of Energy Regulators (ACER), which was formed as part of REMIT.
The new European rules, designed after various market abuse and manipulation cases were brought to light in recent years, require wholesale providers to report on capacity, utilization, and availability of facilities covering the production, transport, consumption, and storage of power, natural gas, and light natural gas (LNG).
EEX's central platform is designed to check the plausability of reported data, anonymize and aggregate it before it is then published to ACER. 47 firms from Germany, Austria, and the Czech Republic currently use the platform, with swisselectric also set to join by year's end.
"The new reporting requirements have presented the industry with not only an operational challenge but also a data management challenge. The platform was designed to reduce that burden through centralization and standardization, and we are pleased to be working with Sapient Global Markets to facilitate a rapid yet smooth adoption of the platform," says Steffen Kohler, COO at EEX.
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