RRM
Overview
In order to enhance market monitoring and increase the transparency of wholesale energy markets, REMIT Article 8 requires market participants to provide ACER with a record of their wholesale energy market transactions through a selected Registered Reporting Mechanisms. HUPX is a Registered Reporting Mechanism (RRM) for the automated reporting of trading data in compliance with REMIT Art.8. HUPX is continuously enhancing its reporting service in accordance with new specifications and requirements communicated by ACER.
HUPX ACER registration number: B0000450I.HU
By using the reporting service, market participants will:
- have access to a standardised user interface,
- reduce their reporting efforts of REMIT transaction data significantly,
- be able to download REMIT data files individually and
- monitor reported data and reporting status via an easily accessible web interface.
“REMIT affects everyone who participates in, or whose conduct affects, wholesale energy markets within the Union. It makes no difference whether or not the person resides within the EU or whether or not they are professional investors. Moreover, non-EU and non-EEA market participants are covered by REMIT when entering into transactions, including the placing of orders to trade, in one or more wholesale energy markets in the Union.
Accordingly, the obligations to register under REMIT with the competent NRA and to report data to the Agency according to Article 8(1) and (5) of REMIT also applies to such non-EU and non-EEA market participants. The same holds for the prohibitions of market abuse pursuant to Articles 3 and 5 of REMIT.”
> Questions & Answers on REMIT 21st Edition (June 2017), published by ACER
Obligation
Regulation (EU) No. 2024/1106 Article 8 paragraph 1
“Market participants, or a person or authority […] on their behalf, shall provide the Agency with a record of wholesale energy market transactions, including orders to trade. The information reported shall include the precise identification of the wholesale energy products bought and sold, the price and quantity agreed, the dates and times of execution, the parties to the transaction and the intermediate or final beneficiaries of the transaction and any other relevant information. Market participants shall include information about their exposures, detailed by product, including the transactions that occur over the counter. While overall responsibility lies with market participants, once the required information is received from a person or authority […], the reporting obligation on the market participant in question shall be considered to be fulfilled. The information referred to in this paragraph shall be provided through RRMs.”
Frequently asked questions
ACER REMIT FEES
The European Commission introduced REMIT fees funding part of the budget of ACER by the Commission Decision (EU) 2020/2152 of 17 December 2020 on fees due to the European Union Agency for the Cooperation of Energy Regulators for collecting, handling, processing and analysing of information reported under Regulation (EU) No 1227/2011 of the European Parliament and of the Council. REMIT fees consist of two (2) elements, the record based fee element based on the data submitted to ACER (Orders and Trades) on yearly basis and the fixed fee element for the given year.
HUPX Price List for RRM Service
Please click on the contract types in the below table in order to see the agreement:
| Contract type | Agreement | HUPX Members | NON HUPX Members |
|---|---|---|---|
| A1 |
Entrust HUPX to report their trades and data concluded on HUPX |
Listed in HUPX Membership Fee Schedule | Not available |
|
Entrust HUPX to report their trades and data concluded on Organised Market Places (OMPs) other than HUPX Market and/or HUDEX power segment |
Listed in HUPX Membership Fee Schedule | 1000 EUR/annum |