Retail Energy Market Monitoring (REMM) is one of three flagship projects aimed at delivering our strategic approach to energy retail markets and consumer protection. The ultimate objective of REMM is to implement an effective and proportionate enhanced market monitoring framework for the electricity and gas supply sectors in Northern Ireland. This will involve improved data flows between the regulated companies and the UR. The companies will benefit from further clarity around information requirements and associated timelines for return. Consumers will benefit from enhanced regulation capabilities within the UR based on consistent and high quality data returns and from increased transparency of retail energy market information.
This consultation provides the background to REMM and details the high level principles which we have adopted in developing the proposed REMM framework. In addition it sets out in detail the indicators which we propose to monitor, the level of information we propose to collect and the timelines for data submission. To further aid stakeholders and especially the affected companies, we have also published the draft templates for data collection alongside the consultation paper, and we welcome views on these templates as well as the other proposals within the paper. Our proposals benefited from a range of bilateral meetings held with industry participants during 2014.