11/12/2014 ENTSOG Transparency Workshop. Fluxys Belgium s experience in REMIT Pilot Project

Transcription

1 11/12/2014 ENTSOG Transparency Workshop Fluxys Belgium s experience in REMIT Pilot Project

2 CONTEXT Remit (Regulation on Energy Market Integrity and Transparency) Purpose: monitor wholesale energy markets to foster open and fair competition through reporting of any information that may impact prices Applies to Market participants : Any person, including TSOs, who enters into transactions in wholesale energy markets Prohibition of insider trading Obligation to publish of inside information Transparency requirement according to reg. EC 715/2009 & Urgent Market Messages Market monitoring to detect & prevent market manipulation Implementing acts through comitology to fix provision requirements to ACER Fundamental Transactional Capacity & use of capacity Planned & unplanned maintenance Wholesale energy transaction including orders to trade 2 Basis for market monitoring of transactional

3 HIGH LEVEL TIMELINE Inside information Remit s entry into force Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Fundamental Transactional Implementing Acts (comitology) Voted on 3rd of October Implementing Acts published (entry into force after 20 days) Expected beginning 2015 Commission Redaction of Implementing Acts Comitology meetings ACER ENTSO-G Recommendation to Commission on Remit Records of Transactions Remit Pilot Project Publication of User Manual TSOs, SSOs, LSOs Market participants Easeegas workshop

4 FUNDAMENTAL DATA TSO Publication on Transparency Platform (Reg. EC 715/2009) Following working day Shipper-related information Day-ahead & final nominations Provisional allocations As soon as available on ENTSOG TP Aggregated Transparency information Capacity and use of facilities for transmission of natural gas Planned and unplanned unavailability Following working day Aggregated Transparency information Technical, contracted and available capacity Gas in stock, injections and withdrawals Planned and unplanned unavailability As soon as available SSO Following working day Storage user information Amount of gas in stock Following working day Terminal user information unloading and reloading of cargos planned usage of the LNG facility for next month One month in advance Following working day Aggregated Transparency information Technical, contracted and available capacity Daily send-out and inventory of the LNG facility Planned and unplanned unavailability As soon as available LSO Easeegas workshop

5 HIGH LEVEL TIMELINE Inside information Remit s entry into force Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Fundamental Transactional Implementing Acts (comitology) Voted on 3rd of October Implementing Acts published (entry into force after 20 days) Expected beginning 2015 Commission Redaction of Implementing Acts Comitology meetings ACER ENTSO-G Recommendation to Commission on Remit Records of Transactions Remit Pilot Project Publication of User Manual After 9 months Reporting of transparency TSOs, SSOs, LSOs After 15 months Reporting of market participant related and LSO, SSO fundamental Market participants Easeegas workshop

6 TRANSACTIONAL DATA Supply (commodity) Transportation (contracts) Transactions on exchange platform Orders to trade To be reported by the organised market place Transactions, including orders to trade Over-the-counter transactions To be reported by the market participants themselves 6

7 HIGH LEVEL TIMELINE Inside information Remit s entry into force Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Fundamental Transactional Implementing Acts (comitology) Voted on 3rd of October Implementing Acts published (entry into force after 20 days) Expected beginning 2015 Commission Redaction of Implementing Acts Comitology meetings ACER ENTSO-G Recommendation to Commission on Remit Records of Transactions Remit Pilot Project Publication of User Manual After 9 months Reporting of transparency TSOs, SSOs, LSOs After 15 months Reporting of market participant related and LSO, SSO fundamental Market participants The organised market place where the transaction was executed or order was placed shall at the request of themarket participant offer a reporting agreement After 9 months After 15 months Reporting of transactions concluded on organised market places Reporting of transactions concluded outside organised market places Easeegas workshop

8 TRANSACTIONAL DATA Supply (commodity) Transactions on exchange platform Transportation (contracts) Primary market Orders to trade Capacity offer for auctions TSO To be reported by the organised market place Transactions, including orders to trade Bids for auctions Auction bids Capacity contracts (auctions & FCFS) By TSO or third parties on their behalf Over-the-counter transactions Secondary market Secondary market transaction To be reported by the market participants themselves To be reported by the market participants themselves 8 8

9 HIGH LEVEL TIMELINE Inside information Remit s entry into force Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Fundamental Transactional Implementing Acts (comitology) Voted on 3rd of October Implementing Acts published (entry into force after 20 days) Expected beginning 2015 Commission Redaction of Implementing Acts Comitology meetings ACER ENTSO-G Recommendation to Commission on Remit Records of Transactions Remit Pilot Project Publication of User Manual After 9 months Reporting of transparency TSOs, SSOs, LSOs After 15 months After 15 months Reporting of market participant related and LSO, SSO fundamental Reporting of transportation contracts on primary market Market participants 9 The organised market place where the transaction was executed or order was placed shall at the request of themarket participant offer a reporting agreement Easeegas workshop After 9 months After 15 months After 15 months Reporting of transactions concluded on organised market places Reporting of transactions concluded outside organised market places Reporting of transportation contracts on secondary market concluded on organised market places

10 CONTEXT REMIT PILOT PROJECT Inside information Remit s entry into force Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Fundamental Transactional Implementing Acts (comitology) Voted on 3rd of October Implementing Acts published (entry into force after 20 days) Expected beginning 2015 Commission Redaction of Implementing Acts Comitology meetings ACER Recommendation to Commission on Remit Records of Transactions Phase I Remit Pilot Project Publication of User Manual Purpose Phase I To gather valuable input from parties that will be involved in collection under REMIT To develop a working IT system prototype able to collect the To collect sufficient amount of for initial testing and customisation of Market Monitoring Solution To gradually improve and upgrade the prototype to become a fully functional ARIS system To identify open issues and problems in the early phase of ARIS implementation 10

11 REMIT PILOT PARTICIPANTS PHASE I 11

12 ACER REMIT PILOT PROJECT PHASE I - APPROACH Focus on fundamental based on 2 documents Recommendation ACER ENTSOG s proposal for disaggregated fundamental Conf calls ENTSOG/Fluxys/GTS/ACER to discuss what will be provided for the purpose of the pilot project Agreement for scope of pilot project Provisional allocations, Day-ahead and final nominations Final contracted position Technical and available capacity Physical flows Focus on IPs, LNG terminals, Storage and production points Supply points aggregated per shipper for Industry Data of december 2012 In kwh Requests to Edigas-experts of GTS and Fluxys Design of a set of Market monitoring messages which can be used for market monitoring by any regulator

13 CONTEXT REMIT PILOT PROJECT Inside information Remit s entry into force Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Fundamental Transactional Implementing Acts (comitology) Voted on 3rd of October Implementing Acts published (entry into force after 20 days) Expected beginning 2015 Commission Redaction of Implementing Acts Comitology meetings ACER Recommendation to Commission on Remit Records of Transactions Remit Pilot Project Phase I Phase II Publication of User Manual Purpose Phase II To collect as much as possible To define the scope of the first production release of ARIS (e.g. formats, to be collected, interfaces supported) To provide a basic sharing solution for NRAs To provide a plan for ARIS go-live To get estimates on key system requirements (e.g. number of users, number of transactions) To define validation procedures and controls 13

14 REMIT PILOT PARTICIPANTS PHASE II Participant names ENTSO-E Fluxys Belgium Plinovodi Trayport Efetnet EEX Epex Spot APX NPS OMIE Opcom HUPX Zrt. POLPX ICE Endex/ICE Trade Vault Europe Limited Regis-TR LSE - UnaVista DTCC ENTSO-G Roles Association electricity TSOs (including up to 5 TSO members), candidate-member, pending NDA process Gas TSO, focus at fundamental Gas TSO, focus at fundamental potential RRM potential RRM Energy exchange, focus on transactional and fundamental Energy exchange Energy exchange Energy exchange Energy exchange Energy exchange Energy exchange, candidate-member, pending NDA process Energy exchange, candidate-member, pending NDA process Energy exchange; reporting derivatives as Trade repository; candidate-member, pending NDA process Trade repository, member Trade repository, candidate-member, pending NDA process Trade repository, observer Association gas TSOs, observer 14

15 ACER REMIT PILOT PROJECT PHASE II - APPROACH Discussion within ENTSOG on fields to be provided for Transportation contracts & auction results Day-ahead nominations, final nominations & provisional allocations Workshop (28/1/2014 & 5/2/2014) with ACER to agree on required fields (to be included in the implementing acts) for Transactional : Transportation contracts Fundamental : Transparency information &Day-ahead nominations, final nominations & provisional allocations Draft XSD-schemes provided to ACER (to be finalised end of 2014) Transparency information Edigas message under development for providing of Transparency platform provided by ENTSOG to ACER Day-ahead nominations, final nominations & provisional allocations Easeegas redesigned the initial xsd to match the agreed fields Transportation contracts & auction rounds almost finalised the Edigas message

16 FLUXYS BELGIUM S EXPERIENCE IN REMIT PILOT PROJECT Participation with real was helpfull in identifying where the Edigasmessages still needed changes to cover concerns of TSOs within ENTSOG Main concern remaining: offered interfaces for collection do not include AS2/AS4, which are part of the Network code interoperability Very constructive cooperation with Market Monitoring Team of ACER Open for suggestions/arguments why certain information was better for market monitoring than others (eg. Allocations instead of confirmations) Impression that Cooperation and feedback from market participants was really appreciated by ACER

17 SPECIAL THANKS TO EASEEGAS FOR MAKING XML COMPREHENSIVE FOR ENTSOG AND ACER 17

18 THANK YOU FOR YOUR ATTENTION! End User s meeting