Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference paragraph 12.3 of the Explanatory Memorandum to The Electricity and Gas (Market Integrity and Transparency) (Amendment) (EU Exit) Regulations 2019 instrument, what the anticipated timescales are for establishing the registration and reporting requirements set out in that instrument.

Following a no-deal exit, Ofgem intend to review the domestic reporting requirements of the Regulation for Energy Market Integrity and Transparency (REMIT) in consultation with industry. In the event that new reporting systems are required, alternative arrangements will remain in place for up to 2 years, until these systems are available. These alternative arrangements will not reduce Ofgem’s ability to maintain appropriate oversight of the wholesale gas and electricity markets and will not diminish their ability to enforce REMIT requirements.