Article 8 REMIT provides for comprehensive data collection by ACER. Such data relate to wholesale energy market transactions, including orders to trade, as well as information related 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, for the purpose of monitoring trading in wholesale energy markets. Any breach of this reporting obligation constitutes an administrative offence under the Electricity Act 2010 and/or the Natural Gas Act 2011 and is punishable with a fine of up to EUR 50,000. A breach is deemed to exist where a person or entity
- in contravention of Article 8(1) REMIT in conjunction with implementing legislation in accordance with Article 8(2) REMIT fails to submit a record mentioned therein, to submit it correctly, to submit it in due time or to submit it in full;
- in contravention of Article 8(5) REMIT in conjunction with implementing legislation in accordance with Article 8(6) REMIT fails to submit information mentioned therein, to submit it correctly, to submit it in due time or to submit it in full.
Article 15 REMIT requires any person professionally arranging transactions in wholesale energy products who reasonably suspects that a transaction might breach Article 3 or 5 REMIT to notify the national regulatory authority without further delay. Whoever, in contravention of Article 15 REMIT, fails to inform the regulatory authority, to inform it correctly, to inform it in full or to inform it in due time is deemed to have committed an administrative offence and may be fined up to EUR 50,000.
According to section 25a(2) E-Control-Gesetz (E-Control Act), E-Control requests and collects data and information it needs to fulfil the responsibilities it is charged with pursuant to REMIT and to monitor trading in wholesale energy products at national level and to monitor compliance with all obligations and prohibitions laid down by REMIT. For that purpose, section 25a(2) E-Control Act provides that E-Control must issue an ordinance to determine the parties to whom reporting obligations apply as well as the frequency, scope and format of the reporting obligations. That provision was implemented into law in the Energiegroßhandelsdaten-Verordnung (Ordinance on Energy Wholesale Data Collection). Whoever fails to submit data as ordered by an ordinance pursuant to section 25a(2) E-Control Act is deemed to have committed an administrative offence and may be fined up to EUR 10,000.
According to section 24(2) E-Control Act, the regulatory authority, in exercising its monitoring tasks set out in section 24(1) E-Control Act, may instruct by way of an official decision that compliance with the law be restored within an appropriate period of time. Whoever fails to comply with official decisions issued pursuant to section 24(2) E-Control Act for the scope of that Federal Act or any conditions, time limits and stipulations included therein is deemed to have committed an administrative offence and may be fined up to EUR 75,000.
According to section 25a(3) E-Control Act, exchanges and any other persons that professionally arrange transactions for the Austrian market must provide to E-Control all information it requires to fulfil its responsibilities and must support it in executing investigations. If there is suspicion that rules included in the exchange’s scope of duties, especially trade rules, as well as rules that lie in the jurisdiction of E-Control have been violated, both parties must cooperate and make relevant information available to each other. E-Control is authorised to order the exchange and any other persons that professionally arrange transactions for the Austrian market to cease to carry out investigations or any other measures if they complicate or obstruct the investigation of a case pursuant to Article 3 or 5 REMIT. Whoever fails to comply with its information and cooperation obligations pursuant to section 25a(3) E-Control Act is deemed to have committed an administrative offence and may be fined up to EUR 10,000.