Fluxys Belgiums experience in REMIT Pilot Project 11/12/2014 - - PowerPoint PPT Presentation

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Fluxys Belgiums experience in REMIT Pilot Project 11/12/2014 - - PowerPoint PPT Presentation

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Fluxys Belgiums experience in REMIT Pilot Project 11/12/2014 ENTSOG Transparency Workshop CONTEXT Remit (Regulation on Energy Market Integrity and Transparency) Purpose: monitor wholesale energy markets to foster open and fair

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

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Wholesale energy transaction including orders to trade Capacity & use of capacity Planned & unplanned maintenance

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 Market monitoring to detect & prevent market manipulation

  • Obligation to publish of inside information

 Transparency requirement according to reg. EC 715/2009 & Urgent Market Messages

Fundamental data Transactional data

  • Implementing acts through comitology to fix data provision requirements to ACER

Basis for market monitoring

  • f transactional data

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20141211 – ENTSOG Transparency Workshop

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HIGH LEVEL TIMELINE

2012 ACER

Commission

Remit’s entry into force

2013 2011 TSOs, SSOs, LSOs

Redaction of Implementing Acts

2014

Comitology meetings

Recommendation to Commission on Remit Records of Transactions

2015 Market participants 2016 2017

Implementing Acts (comitology) Inside information Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Transactional data Fundamental data

Implementing Acts published (entry into force after 20 days) Voted on 3rd of October

20141022 – Easeegas workshop

Expected beginning 2015

ENTSO-G

Remit Pilot Project

Publication of User Manual

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FUNDAMENTAL DATA

TSO LSO SSO

Publication on Transparency Platform (Reg. EC 715/2009)

Shipper-related information

  • Day-ahead & final nominations
  • Provisional allocations

Aggregated Transparency information

  • Technical, contracted and available capacity
  • Daily send-out and inventory of the LNG facility
  • Planned and unplanned unavailability

Terminal user information

  • unloading and reloading of cargos
  • planned usage of the LNG facility

for next month Storage user information

  • Amount of gas in stock

Aggregated Transparency information

  • Technical, contracted and available capacity
  • Gas in stock, injections and withdrawals
  • Planned and unplanned unavailability

Aggregated Transparency information

  • Capacity and use of facilities for transmission of natural gas
  • Planned and unplanned unavailability

20141022 – Easeegas workshop As soon as available on ENTSOG TP Following working day Following working day Following working day As soon as available One month in advance Following working day Following working day As soon as available

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HIGH LEVEL TIMELINE

2012 ACER

Commission

Remit’s entry into force

2013 2011 TSOs, SSOs, LSOs

Redaction of Implementing Acts

2014

Comitology meetings

Recommendation to Commission on Remit Records of Transactions

2015 Market participants 2016 2017

Implementing Acts (comitology) Inside information Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Transactional data Fundamental data

Voted on 3rd of October After 9 months

Reporting of transparency data Reporting of market participant related and LSO, SSO fundamental data

After 15 months

20141022 – Easeegas workshop

Expected beginning 2015

ENTSO-G

Remit Pilot Project

Publication of User Manual Implementing Acts published (entry into force after 20 days)

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TRANSACTIONAL DATA

Orders to trade

Transactions, including orders to trade

Supply (commodity) Transportation (contracts) Transactions on exchange platform Over-the-counter transactions

To be reported by the

  • rganised market

place To be reported by the market participants themselves

20141211 – ENTSOG Transparency Workshop

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HIGH LEVEL TIMELINE

2012 ACER

Commission

Remit’s entry into force

2013 2011 TSOs, SSOs, LSOs

Redaction of Implementing Acts

2014

Comitology meetings

Recommendation to Commission on Remit Records of Transactions

2015 Market participants 2016 2017

Implementing Acts (comitology) Inside information Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Transactional data Fundamental data

Voted on 3rd of October After 9 months

Reporting of transparency data Reporting of transactions concluded on organised market places Reporting of transactions concluded outside

  • rganised market places

After 9 months After 15 months

Reporting of market participant related and LSO, SSO fundamental data

After 15 months

20141022 – Easeegas workshop

Expected beginning 2015

ENTSO-G

The organised market place where the transaction was executed or order was placed shall at the request of themarket participant

  • ffer a data reporting agreement

Remit Pilot Project

Publication of User Manual Implementing Acts published (entry into force after 20 days)

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TRANSACTIONAL DATA

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Orders to trade

Transactions, including orders to trade

Bids for auctions

Supply (commodity) Transportation (contracts)

TSO

Primary market Transactions on exchange platform Over-the-counter transactions Secondary market

Capacity offer for auctions

Secondary market transaction

Auction bids Capacity contracts (auctions & FCFS)

To be reported by the

  • rganised market

place To be reported by the market participants themselves By TSO or third parties on their behalf To be reported by the market participants themselves

20141211 – ENTSOG Transparency Workshop

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HIGH LEVEL TIMELINE

2012 ACER

Commission

Remit’s entry into force

2013 2011 TSOs, SSOs, LSOs

Redaction of Implementing Acts

2014

Comitology meetings

Recommendation to Commission on Remit Records of Transactions

2015 Market participants 2016 2017

Implementing Acts (comitology) Inside information Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Transactional data Fundamental data

Voted on 3rd of October After 9 months

Reporting of transparency data

Remit Pilot Project

Reporting of transactions concluded on organised market places Reporting of transactions concluded outside

  • rganised market places

After 9 months After 15 months

Reporting of transportation contracts on primary market Reporting of market participant related and LSO, SSO fundamental data

After 15 months

Reporting of transportation contracts on secondary market concluded on organised market places

After 15 months

20141022 – Easeegas workshop

Expected beginning 2015

ENTSO-G

After 15 months

The organised market place where the transaction was executed or order was placed shall at the request of themarket participant

  • ffer a data reporting agreement

Publication of User Manual Implementing Acts published (entry into force after 20 days)

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CONTEXT REMIT PILOT PROJECT

2012 ACER

Commission

Remit’s entry into force

2013 2011

Redaction of Implementing Acts

2014

Comitology meetings

Recommendation to Commission on Remit Records of Transactions

2015 2016 2017

Implementing Acts (comitology) Inside information Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Transactional data Fundamental data

Voted on 3rd of October

Expected beginning 2015

Remit Pilot Project Phase I

Purpose Phase I

  • To gather valuable input from parties that will be involved in data collection under REMIT
  • To develop a working IT system prototype able to collect the data
  • To collect sufficient amount of data 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

Publication of User Manual Implementing Acts published (entry into force after 20 days)

20141211 – ENTSOG Transparency Workshop

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REMIT PILOT PARTICIPANTS PHASE I

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20141211 – ENTSOG Transparency Workshop

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ACER REMIT PILOT PROJECT PHASE I - APPROACH

  • Focus on fundamental data based on 2 documents
  • Recommendation ACER
  • ENTSOG’s proposal for disaggregated fundamental data
  • Conf calls ENTSOG/Fluxys/GTS/ACER to discuss “what” will be provided for the purpose
  • f 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

20141211 – ENTSOG Transparency Workshop

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CONTEXT REMIT PILOT PROJECT

2012 ACER

Commission

Remit’s entry into force

2013 2011

Redaction of Implementing Acts

2014

Comitology meetings

Recommendation to Commission on Remit Records of Transactions

2015 2016 2017

Implementing Acts (comitology) Inside information Prohibitions of insider dealing and market manipulation apply for market participants Obligation to publish inside information applies for market participants Transactional data Fundamental data

Voted on 3rd of October

Expected beginning 2015

Remit Pilot Project Phase I Phase II

Purpose Phase II

  • To collect as much data as possible
  • To define the scope of the first production release of ARIS (e.g. formats, data to be collected,

interfaces supported)

  • To provide a basic data 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

Publication of User Manual Implementing Acts published (entry into force after 20 days)

20141211 – ENTSOG Transparency Workshop

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REMIT PILOT PARTICIPANTS PHASE II

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

20141211 – ENTSOG Transparency Workshop

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ACER REMIT PILOT PROJECT PHASE II - APPROACH

  • Discussion within ENTSOG on data 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 data fields (to be

included in the implementing acts) for

  • Transactional data: Transportation contracts
  • Fundamental data: 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 data of Transparency

platform provided by ENTSOG to ACER

  • Day-ahead nominations, final nominations & provisional allocations  Easeegas redesigned the initial xsd

to match the agreed data fields

  • Transportation contracts & auction rounds  almost finalised the Edigas message

20141211 – ENTSOG Transparency Workshop

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FLUXYS BELGIUM’S EXPERIENCE IN REMIT PILOT PROJECT

  • Participation with real data was helpfull in identifying where the Edigas-

messages still needed changes to cover concerns of TSOs within ENTSOG

  • Main concern remaining: offered interfaces for data 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

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

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20141211 – ENTSOG Transparency Workshop

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THANK YOU FOR YOUR ATTENTION!

20140522 – End User’s meeting