ACER (the Agency for Cooperation of the European Regulators) launches a public consultation regarding the European register of participants in the wholesale market for electricity and natural gas, according to a press release from the institution.

Specifically, the consultation is organized regarding the functioning and usefulness of the European register of the market participants (EREMP) in order to see if the TEMP recording format of the agency could be improved, to help the agency assess the functioning and usefulness of this register.

ACER uses the Registry to monitor the activity of trading and supply companies and to identify any possible market abuses. The registry is essentially a governance tool for the energy and gas market, focusing on the integrity and transparency component.

After completion of the public consultation, ACER will prepare a report in which it will present the assessment results upon the functionality and utility of EREMP, report that will be submitted to the European Commission. The deadline for submitting proposals / observations / comments is April 22nd, 2016.

The European register of market participants was first published in March 2015 and is constantly updated. Until March 17th, 2016, in the Register enrolled almost 7,390 participants in the wholesale electricity and gas market.

In the first phase of the entries, there were registered only 3,726 entities active in both markets. ACER began in October 2015 to receive data regarding concluded contracts by wholesalers on the trading platforms and data on physical flows, this time provided by the representative organizations for electricity and gas sectors.