Frequently Asked Questions

REMIT

  • What is JAO’s reporting obligation if a capacity is not nominated (UIOSI principle)?

    Our answer

    Physical transmission rights are subject to the UIOSI principle. The Agency’s view of transactions related to automatic return of capacity as execution of the UIOSI principle should not be considered as results of primary allocation. Therefore this transaction is not included in the data reporting process by JAO.

  • Market Surveillance Committee

    Our answer

    As the Luxembourg regulator, Institut Luxembourgeois de Régulation (ILR) considers JAO as a person professionally arranging transactions (PPAT) and in accordance with Article 15 of REMIT, JAO had to establish and maintain effective arrangements to identify breaches of Article 3 or 5 of REMIT.

    We are hereby informing you that JAO has established a Market Surveillance Committee (MSC).

    The role of MSC is to monitor, in line with Article 15 of REMIT, potential market abuse (insider trading and market manipulation) and report on this where deemed necessary to the regulator (ILR).

    You can report any suspicious behaviour at market.surveillance@jao.eu .

  • What REMIT reporting is performed and required in the context of FTR Options and specifically for the EWIC and Moyle interconnectors?

    Our answer

    The Commission Delegated Regulation (EU) 2017/565 published earlier this year provides clarification in relation to Directive 2014/65/EU (MiFID II). The FTR Options allocation on the EWIC (and Moyle) interconnectors will be by Transmission System Operators as per article 8(c) of this (2017/565).

    The EWIC and Moyle allocations will be via the JAO platform and will be reported in line with the REMIT and Transparency regulations. JAO have already implemented FTR options on the France-Belgium border.

     

    Specific to REMIT, the clarification on JAO's reporting is as follows:

    For the primary allocations JAO will report the TSO information to REMIT. This can be considered to fulfil the Market Participant reporting requirement also – below are the details from REMIT art. 8: “While overall responsibility lies with market participants, once the required information is received from a person or authority listed in points (b) to (f) of paragraph 4, the reporting obligation on the market participant in question shall be considered to be fulfilled.”

    For secondary allocations the JAO reporting is only for the TSO side. Market Participants will need to do the relevant REMIT reporting for returns (for resale) and transfers if they avail of these.

  • Is JAO considered an organized market place and what services do you in that case offer when it comes to REMIT reporting?

    Our answer

    JAO S.A does not report on behalf of the Participants, only on behalf of the Transmission System Operators (TSO’s) details of contracts referred to in Article 3(1) (b)(i) of COMMISSION IMPLEMENTING REGULATION (EU) No 1348/2014.

    In order to know more about your company’s exact obligations you will need to contact the Agency for the Cooperation of Energy Regulators (ACER).

    https://www.acer-remit.eu/portal/home