Auditing services

Tender description

The services relate to the all-island Single Electricity Market (SEM) specifically the Trading and Settlement Code (TSC) and the Capacity Remuneration Mechanism (CRM). The TSC Market Auditor shall conduct an audit of the TSC, its operation and implementation and the operations, trading arrangements, procedures, processes under the TSC at least once a year. The Capacity Market Auditor shall conduct an audit of the operation and implementation of the arrangements, procedures and processes under the Capacity Market Code at least once a year, in accordance with the terms of reference determined by the Contracting Authorities. The Services relate to the all-island Single Electricity Market (SEM) specifically the SEM Trading and Settlement code (TSC). The TSC is a multilateral contract which sets out the rules and procedures concerning the sale and purchase of wholesale electricity in Ireland and Northern Ireland. The TSC was designated by the CRU/NIAUR and can be modified from time to time thereafter in accordance with process set out in the TSC. The Service for Lot 1 comprises providing the SEM with a Market Auditor to conduct an audit of the TSC, its operations, trading arrangements, procedures, processes under the TSC at least once a year. The Services relate to the all-Island Single Electricity Market (SEM) specifically the Capacity Remuneration Mechanism (CRM). The detailed rules and procedures associated with the Capacity Remuneration Mechanism are set out in the Capacity Market Code (SEM-17-033) published on 2.6.2017. The first capacity auction within the CRM was held in December 2017. The Services for Lot 2 comprise of providing the SEM with a Capacity Market Auditor to conduct an audit of the Capacity Market Code for a multi-year period.