Universal tool to make regulatory reporting fast and easy
The effective oversight of wholesale energy markets requires regular monitoring of contract details. This includes orders to trade, as well as data on capacities and on the use of facilities for production, storage, consumption or transmission of electricity and natural gas.
The Agency for the Cooperation of Energy Regulators (ACER) is responsible for this activity in the EU but it requires data from energy businesses about their wholesale energy contracts and other specific reportable fundamental data in the form of mandatory reports.
New regulations often result in new documentations which means an increased workload unless the business has an easy-to-use instrument that does the job for you – this is the reason why we created our ACER reporting tool: REMIT-IP. It is a universal application for all and can be easily integrated into the software network of every business.
Complying with the Regulation on wholesale Energy Market Integrity and Transparency (REMIT), thus reporting is a must for everyone. Therefore, we created a universal tool to make it fast and easy. Besides meeting the current reporting requirements, the use of our solution means that users do not have to deal with future amendments of the regulation because we track the changes and implement them in REMIT-IP.
REMIT-IP is able to communicate with any vendor’s or your in-house-developed trading application so you do not need to enter the data twice, into two separate systems. Furthermore, we made it as little complicated as possible which ensures that it is easy-to-use and processes are comprehensible.
The deployment and introduction of the system require a very short period of time. It is a relatively small software which uses your already existing data. The user interface is self-explanatory; therefore, little training is enough to get familiar with the straightforward process of reporting.