According to the Regulation of Wholesale Energy Market Integrity and Transparency (REMIT), market participants shall publicly disclose in an effective and timely manner inside information concerning business or facilities which the market participant concerned owns or controls or for whose operational matters that market participant is responsible. Information is regarded as inside information when the information:
- is specific;
- has not been made public;
- relates ,directly or indirectly, to one or several energy wholesale products and;
- is likely to significantly affect the market price if it were made public
Such disclosure shall include information relevant to the capacity and use of facilities for production, storage, consumption or transmission of electricity or natural gas or related to the capacity and use of LNG facilities, including planned or unplanned unavailability of these facilities.
For example, the shutdown of a substation with relevant production capacity is considered inside information. This information may have a significant affect on the market price. Thus, according to REMIT, this information has to be disclosed in order to avoid market manipulation.
Inside information should be published as soon as possible, but at the latest within one hour if not otherwise specified in applicable rules and regulations. There are different possibilities to disclose inside information:
Neas is in the process of developing a solution where you can delegate the disclosure of inside information to Neas Energy. You can send us your information via a simple technical set up and we will disclose the information on our homepage. More information about this process will be available shortly.
Make a contract with an “inside information platform”. There are different suppliers providing disclosure of inside information for companies that are registered under REMIT.
- You can find providers for disclosure of inside information here and here.
Inside information can be published on the market participant’s homepage. Note that in this case you need to set up an RSS-feed to allow other market participants to automatically access this information. Inside information shall be kept available for the public for a period of at least 2 years.
- You can find more information about this option here.
- You can find information about the timely and effective disclosure of inside information here.
- You can find information for postponing the disclosure of insider information here.
(Please note that you need to state how you disclose inside information when registering as market participant with the National Regulatory Authority (section 1/5 of the registration). Therefore, you have to determine prior to the registration how you plan to disclose inside information.) In addition, market participants should always examine the national rules and regulations including any applicable exchange rules.