Swiss reporting to ElCom compliant with regulatory deadline
EFETnet announces the successful start of official reporting to Elcom for market participants with their registered office or domicile in Switzerland. EFETnet is the first organisation (both RRM and OMP) to successfully deliver live data to ElCom and in so doing met the 2 December deadline set by the Swiss Regulatory Authority.
EFETnet has stored StromVV-relevant OMP trades & orders collected since 7 October 2015 centrally, and has delivered 939.856 records centrally and in batch to ElCom as of November 30, 2015 (catch-up loading).
On November 26, 2015, ElCom published a list of 41 Swiss (pre-) registered market participants on its website. 22 of those market participants are already reporting to ElCom using the EFETnet service, with four more committed to follow in order to be compliant under Swiss law. Going forward, EFETnet is providing the same seamless ElCom reporting function both for live trades executed at exchanges and brokers connected to the EFETnet RRM, as well as for OMP orders and trades uploaded by market participants themselves, either collected individually from OMPs or during REMIT back-loading.
The ElCom function will also fully cover the bilateral trades sent through EFETnet for REMIT phase 2 reporting from April 07, 2016 on. Swiss market participants who are EFETnet clients did not have to change their own IT systems at all, as their OMP trades & orders are already being routed through EFETnet to ACER. EFETnet filters the Swiss subset according to the StromVV law from that central set, and provides those orders and trades to ElCom centrally, like a “carbon copy”, providing feedback for compliance and reconciliation to Swiss MP.
Tilo Zimmermann of Ponton, who led the project on behalf of EFETnet, said: “The collaboration with the ElCom team headed by Cornelia Kawann and their IT team from the Bundesamt für Informatik und Telekommunikation establishes a benchmark for a successful REMIT implementation between industry and National Regulatory Authorities. I am happy that our Swiss clients have met their deadlines and brought compliancy risk under control.”
This is another success for eRR that already enables more than 430 trading entities across Europe to meet the REMIT Phase 1 requirements since the 7 October ACER deadline. More than six million transaction reports have already been reported via eRR to ACER.
As of 7 April 2016, eRR will include REMIT Phase 2 energy trade reporting. eRR will be free of charge both for Phase 1 AND for Phase 2 reporting, including the ElCom reporting function. This pricing is guaranteed until 1 January 2017.