In a nutshell, what is regulatory reporting?

Bureaucracies serve an important role, but you have to remember to feed them the data they want.

REMIT stands for Regulation on wholesale Energy Market Integrity and Transparency and governs the entire wholesale energy trade, while the EMIR (European Market Infrastructure Regulation) focuses specifically on over-the-counter (OTC) derivatives trading.

Both regulations require companies in the energy sector to complete the same tasks:

  • They need to put the reportable data from different sources onto a single platform and structure it. The reporting period, file format, documentation and transmitters are precisely defined.
  • They are required to report this information to the EU authority ACER – not directly, but through certain ACER-certified service providers, the registered reporting mechanisms (RRMs).
  • Data security compliance with the law must be ensured throughout the entire process.
    Once all these steps have been taken, companies can sit back and relax: they fully complied with their legal reporting obligation and have no need to fear sanctions.

Another topic that also relates to bureaucratic challenges is compliance with Germany’s Grid Expansion Acceleration Act (NABEG). It applies to renewable energy and combined heat and power plants of 100 kW and up as well as plants that can be controlled remotely. According to this law, grid and plant operators, as well as deployment managers, are obliged to comply with Redispatch and Redispatch 2.0. This means that they need to provide data in order to prevent grid bottlenecks.

The consequences of this law are similar to those described above:

  • They are required to generate, collect and structure master and forecast data.
  • They need to transmit this data to the RAIDA system in due time and in the correct format.

The good news:

The bureaucratic processes are so strictly defined and clearly structured that our clever IT solution is able to take care of them on a fully automatic basis.

Automatic legal compliance

You as a reporting company can take advantage of the market-proven solutions of Seven2one. Once they are implemented, the systems take care of the desired reports for you without you having to put any further thought into it or make any manual entries (unless you want to).

We provide you with a powerful software solution for your reporting system, allowing you to import data automatically. The system checks the data for completeness and consistency and converts it into reporting data. The reporting process itself is also fully automatic and completely reliable, with the reporting process being triggered as often as necessary until the report is successfully sent.

At the same time, the software monitors feedback and checks it against what was sent. Everything is logged so that you can prove that you have done everything on time with no omissions. You can view the status of the reports in a transparent manner in a reporting cockpit.

Our solution for Redispatch 2.0 is just as easy to use. The focus here is on future data, such as forecasts and modelling of future loads. But regardless of whether REMIT or Redispatch is involved, we will find and allow you to benefit in many ways from a solution for all bureaucratic reporting obligations.

How you benefit:

  • You save time through process automation
  • You can be sure that you are in compliance with data protection regulations and the law in general
  • Your solution is simple and easy to use
  • You can avoid dealing with bureaucratic details

Would you like to contact our experts at no obligation?

Portrait of Patrick Hartung, Seven2one

I look forward to hearing from you!

Patrick Hartung

Head of Marketing & Sales, Head of Business Solutions