101 UK Brexit Notes

Connemara Programme October 16 2018 pg. 184 government will retain existing Transmission System Operator certifications and will ensure that EU Exit will minimise any new domestic administrative requirements in this regard. The government will also make any small changes or clarifications necessary to the Transmission System Operator certification process to make sure it continues to function efficiently post-exit. The administrators of the various domestic industry codes : (the technical rules of the domestic gas market) will need to ensure that the codes are updated. Ofgem will lead the licence change process in Great Britain and has recently issued a document to industry outlining the process it will follow and the Utility Regulator will take similar action in Northern Ireland. UK market participants: will need to register under the Regulation on Energy Market Integrity and Transparency (REMIT) with an EU regulatory authority for the purposes of market monitoring, to avoid a disruption to cross-border trade, trade within EU wholesale energy markets, Market participants: should engage with their Regulatory Authority where their preparations identify significant concerns. Market participants should also check the status of contracts, and licences which may be impacted by the UK’s departure from the EU. UK regulatory authorities: will provide stakeholders with further information on the contingency requirements for domestic market monitoring later in the year.