2024-07-05: GIIP welcomes a new client: Elektrociepłownia Zielona Góra S.A.
Elektrociepłownia Zielona Góra S.A. specializes in the production of heat and electricity, as well as the distribution and supply of heat to the heating system in Zielona Góra. Our new client will fulfill the obligation to disclose inside information in accordance with the amended EU REMIT regulation by publishing it on the dedicated platform, the Inside Information Platform. Disclosure of REMIT inside information may affect the wholesale price of electricity and gas.
2024-06-19: About GIIP and REMIT II
On 18 June 2024, during a webinar for customers of Polish Gas Transmission Operator GAZ-SYSTEM, we presented GIIP in the context of information obligations under the revised REMIT Regulation (REMIT II). In the course of the meeting, we discussed the new requirements for the operation of Inside Information Platforms (Article 4a) and ACER supervision. We also presented amendments to the Regulation related to inside information within the context of definitions (Article 2), publication (Article 4), monitoring (Article 15) and prohibition of insider trading (Article 3).
2024-06-07: Your opinion matters!
According to #REMIT II, Inside Information Platforms should play a key role in the effective disclosure of events (‘inside information’) that affect the functioning of the wholesale market as well as energy and gas prices. Publication of inside information on IIPs ensures easy access and fosters a level playing field for the market participants.
On our GIIP homepage, under the QUESTIONNAIRE tab, we have posted some questions. We would like to hear the opinions of the GIIP users on the current functionalities and operating principles of our platform.
Please complete the survey which can be found if you follow the links provided below or under the QUESTIONNAIRE tab on the GIIP platform website:
2024-05-09: About the GIIP in the summary of the activities of the Energy Regulatory Office for 2023
In the 2023 Report, the President of the Energy Regulatory Office designated GIIP as the only Inside Information Platform (IIP) in Poland providing REMIT inside information publication services for both the energy and gas markets. Under the REMIT regulation, wholesale energy market participants are required to specify the IIPs of their choice in the national register of market participants (CEREMP) where they publish the required inside information.
The disclosure of inside information is required by the REMIT provisions as such information may have an impact on the formation of wholesale electricity and gas prices. According to the amended provisions of the REMIT II Regulation, as of 7 May 2024, inside information shall be published on dedicated Inside Information Platforms.
2024-04-19: Revised REMIT and Open letter on implications of REMIT revision
Regulation (EU) 2024/1106 amending REMIT was published this week in the Official Journal of the EU. It will enter into force on 7 May 2024.
Revised Regulation on Wholesale Energy Market Integrity and Transparency requires the disclose information relevant to the capacity and use of facilities for production, storage, consumption or transmission of electricity or natural gas or related to the capacity and use of LNG facilities, including planned or unplanned unavailability of these facilities on dedicated platforms, the so-called Inside Information Platform.
Also the ACER Open letter on the implications of the revision of REMIT was published and is available on the Agency website. ACER's open letter provides an overview of the main changes included in the revised REMIT regarding e.g. new definition of inside information as well as modified requirements for Urgent market Messages and Inside Information Platforms’ authorisation.
2024-04-09: ACER and European Commission workshop: REMIT II implementation
On 11 June 2024 ACER and the European Commission Directorate General for Energy (DG ENER) are organising an online workshop to discuss the implementation of REMIT II (amended Regulation on Wholesale Energy Market Integrity and Transparency). REMIT II introduces new definition of inside information as well as modified requirements for Urgent market Messages and Inside Information Platforms’ authorisation.
2024-03-01: It has been 5 years now!
It has been 5 years since we launched the Gas Inside Information Platform. On this occasion, we invited GIIP customers and representatives of the Energy Regulatory Office to a videoconference. The webinar was an excellent opportunity to sum up the five years of GIIP's operation, to present plans for its further development, as well as to exchange customers' experiences in publishing REMIT inside information. Another important topic discussed at the meeting was the amendment of the REMIT Regulation and the new obligations and requirements for platforms on which inside information is disclosed.
We would like to thank our clients for their trust and cooperation.
2023-09-11: Additional functionalities for GIIP
The changes concern the presentation of data published on the Platform and the editing of Urgent Market Messages (UMM).
There is a new filter in the UMM LIST tab, which allows the data searched for in the filters to be presented graphically. In addition, the excel and csv files that present UMM data for Scheme II. have been expanded to include time intervals along with available and unavailable power - they will reflect the information contained in the UMM with greater accuracy than at present. The visibility of the information in the 'Remarks' field in the UMM List view has also been expanded.
In the editing panel for the UMM (available to GIIP clients), we have introduced the convenience of selectively choosing the start or end time of the event, and an optional feature to automatically close the UMM (changing the status to Inactive) when the event duration date has passed.
2023-07-07: Inside Information Platform in the light of the REMIT revision proposal
Proposed amendments to the provisions of the REMIT, announced by the European Commission in March this year (available here: https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13788-Wholesale-energy-markets-improving-EU-protection-against-market-manipulation_en ), are currently under review in the European Union Parliament. In the context of the Inside Information Platform (IIP), the Commission’s proposal includes, among other things, the authorisation and registration of IIP, REMIT fees payable to ACER related to the disclosure of inside information or new channel for ACER to collect UMM. The Commission’s proposal was also assessed by the Council of the EU. Council's provisional position (the so-called general approach) is available here ( https://www.consilium.europa.eu/media/65191/st10872-en23.pdf ).
2023-06-30: Refreshed GIIP website
GIIP is launching a refreshed website. A News tab has appeared on the homepage, where the most important information related to the functioning of the GIIP and the services offered will be announced. The list of UMMs presented in the form of a table (in the UMM List tab) has been supplemented with infographics and clearer graphics. The changes introduced allow for more convenient access to information.