OKTE, a.s. successfully accomplished registration for data reporting according to REMIT

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On 20 August 2015 OKTE, a.s. successfully finalized its registration as "Registered Reporting Mechanism (RRM)" with the Agency for the Cooperation of Energy Regulators (ACER) in line with requirements of the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT).

In order to be registered as RRM OKTE, a.s. had to fulfil demanding technical, legislative and administrative requirements in the areas of data quality, operation, governance, and communication. This was a necessary process to comply with the obligations imposed by REMIT on OKTE, a.s., as a holder of licence for organizing short-term electricity market in Slovakia, to offer a contract for reporting of transaction in Organized Market Place as from 7 October 2015.

Prior to the start of the reporting of transactions realized on organized short-term electricity market (ISOT platform), market participant needs to conclude with OKTE, a.s. the Amendment to the Agreement on the Access to and the Conditions for Participation in the Organized Short-Term cross-border Electricity Market, and the Agreement on Transaction Reporting Realized in the Organized Short-Term Cross-Border Electricity Market.

OKTE, a.s. will soon distribute the above mentioned contracts to organized short-term market participants. For a trouble-free registration in the system of RRM OKTE, a.s. their signing is needed in the first half of September 2015.

OKTE, a.s. registered by ACER is able to arrange reporting of orders to trade and realized transactions placed on and prepared by other organized market place (OOMP) in given ACER format. At present there is one OOMP that will report data via RRM OKTE, a.s. namely the company SPX, .s.r.o.

In addition to fulfilling its legislative obligations OKTE, a.s. will offer the arrangement of reporting services to all electricity and gas market participants for further transactions, mainly bilateral contracts (so called Over-The-Counter, OTC), and final nominations of transmission system operators that are reportable as of 7 April 2016.

Market participant who intends to report transactions realized outside of ISOT platform needs to conclude with OKTE, a.s. only Agreement on supply of data for performing the data reporting according to REMIT and Implementing Regulation (REMIT Contract).