On 25 October 2011, the European Union (EU) adopted new rules prohibiting abusive practices affecting wholesale energy markets via Regulation (EU) No 1227/2011 (Regulation on Energy Market Integrity and Transparency - REMIT).
According to Article 4 of Regulation (EU) No 1227/2011 the market participants are obliged to disclose inside information in respect of businesses or facilities which they own or control or are operationally responsible for.
The obligation for disclosure requires publication of information relevant to the capacity and use of facilities for production, storage, consumption or transmission of natural gas, including planned or unplanned unavailability of these facilities.
According to ACER’s recommendations from the 4th edition of the Guidance on application of Regulation (EU) No 1227/2011, the information required by Article 4 of REMIT has to be disclosed by publication of Urgent Market Messages (UMMs). These messages are ad-hoc notifications dedicated for disclosure of information relevant to the planned or unplanned unavailability of capacity and the facilities for production, storage, consumption or transmission of natural gas owned by DESFA.
Urgent Market Messages
