New and improved REMIT portal live on the Insights Solution
Elexon has built a new and improved portal for publishing Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) disclosures by the industry.
REMIT is retained EU legislation requiring energy companies to make effective and timely public disclosures of inside information. This includes information about infrastructure outages. Elexon has been providing the disclosure platform since 2015 on the Balancing Mechanism Reporting Service (BMRS).
A more visual and customisable data service
The new REMIT portal is part of our delivery of the latest iteration (1.4) of our new wholesale market data service – the Kinnect Insights Solution.
The Insights Solution uses cloud technology to deliver a more visual, granular and customisable data service to meet the needs of users. It is set to replace the 20-year-old system that is used to provide the Balancing Mechanism Reporting Agent Service (BMRA), when it is decommissioned in 2024.
We have listened to customers to deliver a better REMIT portal
We worked extensively with users of the BMRS REMIT portal to develop a new version on the Insights Solution which is much easier to navigate.
We also developed a series of RESTful APIs for programmatic access to REMIT data. RESTful APIs interact with cloud services flexibly in a distributed environment.
The benefits of the new portal for users are:
- Improved filtering which makes it easier to filter REMIT disclosures by asset, generation fuel category or classification of asset unavailability.
- Easier tracking of updates to disclosures, by flagging key changes for each message revision
- Graphical representations of outage profiles for the disclosures
- Dataset endpoints for users who need all the REMIT data, and ‘opinionated’ endpoints which will respond to specific and detailed questions about REMIT data.
Visit the Insights Solution website
Other data flows migrated in the latest iteration
In addition to the REMIT portal, we have also migrated the following data flows from BMRS to the Insights Solution in the latest iteration:
- Market view page for accessing Physical, Dynamic and Bid Offer data for Balancing Mechanism Units
- Loss of Load Probability Data
- Peak Demand (TRIAD data)
- Settlement Triad
- Ingestion of I014 Settlement Report data to unlock the value of this reporting for our customers
- Credit Default Notices web interface.
Elexon is at the forefront of wholesale market data provision
Peter Stanley, Chief Operating Officer, said: “Elexon is at the forefront of providing open data on the wholesale market and around 60% of all existing BMRS data flows have now been migrated to the Insights Solution.
“The flexible and scalable cloud technology that we are using will allow us to serve increasing demands from users for greater functionality and more customisation.
“We are delivering the Insights Solution in an agile way, in close consultation with users of the service. At the heart of this is understanding their pain points when using the old system, so that we can create a much better data service for them.
“We continue to receive good feedback on the new platform and we thank all our customers who continue to work with us to develop and improve it.”
Switch off of BMRS in 2024
We plan to deliver the final iteration of the Insights Solution in December 2023. Once all the remaining BMRS data flows have been migrated to the Insights Solution, we will decommission BMRS in 2024, after which BMRS will no longer be available.
Almost 200 users now signed up our new real time data service
In December 2022, as part of iteration 1.3 of the Insights Solution, we launched the new Insights Solution Realtime Information (IRIS) service. The IRIS is an alternative to the legacy BMRS Data Push Service and TIBCO. The IRIS does not require a costly, on-premises high grade communications link which users need to receive BMRS real time updates.
Since December, 197 people have registered to use the IRIS, compared with 193 users for the data push service and TIBCO combined. We have been continuously making improvements to the IRIS since it was launched.
GitHub page for Insights Solution development
As a first for Elexon first, we have created a public-facing Github page to document and discuss any issues that Insights Solution users have. It is in its infancy, however, it is already a huge improvement compared with the issue reporting system for BMRS.
Get involved in development of the Insights Solution
If you are interested in helping the development of the Insights Solution, sign up to join our Data Reporting User Group.