GIE launches Inside Information Platform under REMIT

December 23, 2020

Gas Infrastructure Europe (GIE) takes a new step forward by becoming a listed IIP under REMIT and would like to thank the Agency for the Cooperation of Energy Regulators (ACER) for confirming its application. This headway highlights GIE’s commitment to transparency and underlines once again its determination to make the energy transition happen in a fair and sustainable manner.

By developing useful, timely and reliable transparency tools, GIE supports the decarbonisation of the EU energy landscape. Indeed, GIE’s transparency platforms AGSI+ and ALSI perform a critical role in the well-functioning and evolution of the EU internal gas market. The establishment of GIE as IIP (Inside Information Platform) under REMIT (Regulation on Wholesale Energy Market Integrity and Transparency) will add the disclosure of UMM (Urgent Market Messages) to its Transparency Platforms. As of 1 January 2021, wholesale energy market participants are required to disclose inside information through IIPs.

In 2020, ACER – the governing body monitoring and ensuring greater transparency in markets by helping to reduce the risk of manipulation – commenced the process of registering Inside Information Platforms (IIPs) as Regulated Information Services (RISs). On 22 December 2020 GIE has completed Phase I of the IIP registration process towards ACER and has been listed as IIP in the category “Transparency Platforms”.

“Today, GIE reaffirms its commitment to gas market transparency and to working jointly with regulators and energy game-changers. To properly tackle the thrilling – but complex – energy transition that we are facing, we need to follow a holistic approach. Having access to updated and reliable technical information on the ground is essential. GIE’s transparency platforms AGSI+ and ALSI provide such information and are a key ally to energy leaders.”
Boyana Achovski, GIE Secretary General stated.

The GIE Inside Information Platform is available at https://iip.gie.eu as a consolidated platform, covering UMM (Urgent Market Messages) for storage, LNG and transmission systems/facilities. These UMMs are also accessible through the AGSI+ and ALSI Transparency Platforms.

ACER Guidance:
“According to Article 4(4) of REMIT, the publication of inside information, including in aggregated form, in accordance with Regulation (EC) No 714/2009 or (EC) No 715/2009, or guidelines and network codes adopted pursuant to those Regulations, constitutes simultaneous, complete and effective public disclosure.

ENTSO-E and ENTSOG are providing central transparency platforms in the meaning of Article 4(4) of REMIT and are invited to adhere that the published information conforms to the minimum quality requirements of Section 7.2.2 of the ACER Guidance. ENTSOG, GIE and several TSO transparency platforms applied to be considered as IIPs for the effective disclosure of inside information and aim at adhering to the above-mentioned IIP requirements.”

By developing useful, timely and reliable transparency tools, GIE remains a pillar component of the energy transition. It plays a decisive role of technical content provider by overseeing several transparency activities including its transparency platforms ALSI (LNG) AGSI+ (storage) and the development of several maps providing a helicopter view of the European gas market.

What are AGSI+ and ALSI platforms?
AGSI+ and ALSI platforms publish the REMIT fundamental data for gas storage and LNG facilities from both GIE members and non-member companies. They showcase the use and availability of storage and LNG terminals across Europe. The access to both platforms is free of charge.

What is REMIT?
REMIT is a regulation which came into force in 2011. It aims to protect the interests of the end users and ensures that competition remain fair and open in the EU energy markets. Focusing on increasing market transparency and integrity, the platform prohibits for instance trading to be based on inside information and deterring market manipulation. In addition, it prevents market participants from manipulating the market while fostering market integration.

Learn more about REMIT

Note to editors

Who is GIE?

Gas Infrastructure Europe (GIE) is the association representing the interests of European gas infrastructure operators active in gas transmission, gas storage and Liquefied Natural Gas (LNG) regasification. GIE is a trusted partner of European institutions, regulatory bodies and industry stakeholders. It is based in Brussels, the heart of European policymaking. GIE currently represents 70 member companies from 26 countries. GIE’s vision is that by 2050, the gas infrastructure will be the backbone of the new innovative energy system, allowing European citizens to benefit from a secure, efficient and sustainable energy supply.