Centrally coordinated activities, the use of advanced tools and the clearly defined tasks of individual departments allow us to respond to changes in a timely manner and effectively manage risks at all levels of operations. Such a conservative business policy helps us to establish a control environment and effectively mitigate all types of operational, credit, market and regulatory risks. Such control allows us to maintain a healthy balance between risks and rewards.
Compliance with valid and future regulatory requirements is centrally coordinated at the parent company in Ljubljana for all GEN-I Group companies. We place a great deal of emphasis on compliance and on lean processes that facilitate efficient operations and rapid responses to regulatory changes.
By implementing processes for reporting to trade repositories and mitigating risks in connection with the trading of bilateral derivatives, we have become compliant with the requirements of the European Market Infrastructure Regulation (EMIR). Such compliance has opened additional opportunities for the trading of derivatives that we use hedge transactions with physical delivery.
In addition, a team of compliance experts has developed processes for reporting to and notifying the EU Agency for the Cooperation of European Energy Regulators (ACER), in accordance with the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT).