REMIT in the SEM – Quality of Urgent Market Messages (UMMs)

The Regulatory Authorities today publish an information note to all Market Participants in the SEM regarding the obligation to post Urgent Market Messages (UMMs) under Article 4 of the Regulation on Wholesale Energy Markets Integrity and Transparency (REMIT).

The RAs are concerned to note that, in carrying out its SEM market monitoring activities on their behalf, the Market Monitoring Unit (MMU) continues to detect conduct by market participants which appears to fall short of the standards imposed under Article 4(1).

The RAs are therefore publishing this information note to remind Market Participants of their obligations and place notice that where the MMU in future detects compliance failures resulting from poor quality UMMs, its policy will be to recommend to the RAs that enforcement action be considered (particularly where there has been previous compliance engagement on that matter).

If Market Participants wish to raise a REMIT related query with the RAs, they can do so via REMIT@uregni.gov.uk and/or REMIT@cru.ie