REMITREP: Your Perfect Gateway to the EU Energy Markets

Obligation for Third-Country Market Participants to Designate a Representative - Background

The issue of requiring non-EU market participants to establish a physical presence within the EU was highly contentious in discussions surrounding new regulations. The European Commission initially proposed that such entities must have a physical establishment within the EU. However, after extensive negotiations, a compromise was reached. The agreement mandates that third-country market participants appoint a representative within the EU and register in a Member State where they conduct business. This requirement for both registration and designation to occur within the same Member State aims to streamline regulatory oversight and ensure accountability.

According to the newly adopted amendments, by November 8, 2024, third-country market participants must designate a representative through a written mandate. This representative is vested with the authority to act on their behalf, serving as the primary point of contact for the Agency for the Cooperation of Energy Regulators (ACER) or the relevant national regulatory authority (NRA). The designated representative is responsible for handling all matters related to receiving, adhering to, and enforcing decisions or requests for information under the revised REMIT (Regulation on Wholesale Energy Market Integrity and Transparency) regulations. This step is crucial for ensuring that non-EU entities comply with EU market regulations effectively.

To facilitate efficient cooperation with ACER and NRAs, third-country market participants must provide their designated representatives with the necessary powers and resources. This ensures that the representatives can fulfill their roles effectively, including responding to directives and information requests promptly. The representatives must be adequately equipped to navigate the regulatory landscape and maintain open communication channels with the authorities. This provision highlights the importance of empowering representatives to act decisively and efficiently on behalf of their principals.

Furthermore, third-country market participants are required to submit comprehensive contact details of their designated representative to the NRA. This information includes the representative's name, email address, postal address, and telephone number. While most notifications can be submitted via the Central European Registry of Market Participants (CEREMP) platform, participants registered in Italy, Romania, and Slovenia must directly notify their respective NRA. This exception underscores the importance of direct communication channels in certain jurisdictions to ensure regulatory compliance.

REMIT II also assigns ACER the responsibility of issuing guidelines and recommendations regarding the implementation of the designated representative requirement. These guidelines aim to provide clarity and consistency in applying the new regulations across Member States. By offering detailed recommendations, ACER seeks to facilitate a smooth transition for third-country market participants and ensure uniformity in regulatory practices. This proactive approach is intended to support market participants in navigating the new requirements and maintaining compliance with the evolving regulatory framework.

REMITREP: REMIT Representation

REMITREP Services BV is a newly established company headquartered in the Netherlands, dedicated to providing legal representation services to non-EU domiciled energy market participants. Our services extend to key EU markets including Germany, Belgium, Spain, Italy, Poland, and the Netherlands. REMITREP is committed to ensuring that non-EU companies meet the stringent requirements set by the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT). By offering specialized representation services, we help our clients navigate the complex regulatory landscape of the European energy markets efficiently and effectively. Our goal is to act as a reliable intermediary, facilitating seamless communication and compliance between non-EU market participants and European regulatory authorities.

REMITREP Responsibilities

REMITREP Services BV takes on a series of critical responsibilities to ensure that our clients remain compliant with EU regulatory requirements. Our duties include:

- Timely Onward Notification: We promptly forward any requests for information (RFI) and other notices received from the National Regulatory Authorities (NRA) to our clients.
- Client Information Submission: We assist clients in gathering and submitting the required information to the NRA as requested.
- Guidance on Response Options: We provide additional guidance on potential options for how to react to NRA requests, ensuring our clients are well-informed and prepared.
- Communication Relay: We relay any communication received from clients back to the NRA and send reminders to clients when a response is required.
- Client Compliance Obligation: Clients are contractually obliged to react to NRA requests in a timely and complete manner, ensuring full compliance with regulatory requirements.

By undertaking these responsibilities, REMITREP ensures that our clients can focus on their core business activities while we handle the regulatory compliance aspects.

Who We Are

REMITREP Services BV was established through a strategic partnership between ETR Advisory and CorreggioNET to provide a simple and cost-efficient solution for non-EU companies needing an EU legal representative. Our combined expertise allows us to offer representative services across various EU markets, helping companies navigate both national and European regulations.

We are a seasoned network of experts offering advice on regulatory compliance and representative services in the energy sector. Our staff is experienced in service agency roles within the energy licensing context, ensuring that we can provide reliable and informed support. REMITREP acts as a go-to single-stop shop for non-EU companies seeking representation in the EU market, providing a streamlined and efficient service tailored to their needs.

Expertise and Experience

The REMITREP team brings extensive experience in managing regulatory changes within the European energy markets. Our staff has a deep understanding of the regulatory environment and is well-versed in the intricacies of both national and European regulations. This expertise ensures that we can provide our clients with accurate, relevant, and timely advice, helping them to remain compliant with all applicable regulations.

Management

REMITREP is managed by Safina Smak-Gregoor, a UK-qualified Attorney at Law with 20 years of industry experience in legal and compliance roles. Safina's leadership ensures that REMITREP operates with the highest standards of professionalism and integrity. Under her guidance, our team is dedicated to delivering exceptional service and support to our clients, helping them navigate the complexities of the European regulatory landscape with confidence and ease.