Nota's Note on Energy Regulation

The OpenLink Bulletin – Summer 2015

Harry Nota, Head of Energy, EMEA, at OpenLink, covers the most relevant issues on Energy Regulation including REMIT, EMIR, FinfraG and more.

Energy Regulation Compliance: 
Outsource the Worry, Keep the Control

June 29, 2015

A problem shared is a problem halved they say. Even better: a problem delegated is a problem solved entirely. Such is the beauty of outsourcing. So when an Organised Market Place (OMP) or other managed service comes to you and says they can cheaply and easily solve your REMIT reporting by October 7, you can sit back and relax, right?

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Whose Remit is REMIT?

May 13, 2015

We know that to the people that should be thinking about REMIT– the head of Compliance and Regulation – REMIT implementation has been their bread and butter for the last few years, and their jobs are on the line if they don’t get it right. We already know that REMIT is top of their to-do list when they walk into the office in the morning!

But what about the rest of your organisation? And even outside of your business. Who else SHOULD be thinking about REMIT?

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REMIT: Why Short-Term Deadlines Need Long-Term Thinking

March 30, 2015

With a little over six months to go until the first wave of REMIT reporting, it’s tempting for energy companies to press the panic button and build or buy tactical REMIT-ready solutions. But this would be a mistake, and it’s one many have made before. Europe is littered with the corpses of EMIR compliance projects that are no longer fit for purpose (both because of REMIT and likely changes to EMIR next year, as well as MiFID II after that). The problem is that EMIR-specific solutions suffer from the constantly changing regulatory landscape, quickly growing obsolete as new and altered reporting requirements come into play. REMIT itself is a case in point: would you build a solution for the October OMP deadline while ignoring the OTC deadline next April? Or one for April with MiFID II on the way?

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