No-deal EU exit REMIT contingency arrangements – Update
Correspondence and other
Publication date
Industry sector
Generation and Wholesale Market
The United Kingdom is scheduled to leave the European Union on 29 March 2019. As part of our contingency planning, on 4 December 2018 we published a letter titled ‘No-deal EU exit REMIT contingency arrangements' (“the December letter”). The letter set out Ofgem’s contingency plans for how the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) will apply in Great Britain in the event of no deal being agreed.
Leaving the EU with a deal remains the Government’s priority. However, until this is confirmed, a responsible government and responsible regulator must plan for every eventuality, including a no deal scenario. Consequently, we consider it is timely to provide market participants (MPs) with an update on how the no-deal REMIT contingency arrangements will work. For the avoidance of doubt, this notice outlines no-deal contingency arrangements only. If a Withdrawal Agreement is implemented, the EU exit implementation period will run until 31 December 2020, unless otherwise agreed by the UK Government and the EU. During this time our working assumption is that current REMIT registration and data reporting channels will remain unchanged. Please refer to the document attached for more information.