Provision of Trading and Settlement Code Market Auditor and Capacity Market Auditor of the Single Electricity Market

Tender description

Since 1st November 2007 the Northern Ireland Authority for Utility Regulation (“NIAUR” or “Utility Regulator”) and the Commission for Utility Regulation (“CRU”), together referred to as the “Regulatory Authorities” or “RAs”, have jointly regulated the all-Island wholesale electricity market known as the Single Electricity Market (“SEM”) covering both Northern Ireland and the Republic of Ireland. The decision-making body which governs the market is the SEM Committee (“SEMC”). The SEM underwent significant change driven by enhancing cross-border trading, interconnection and implementation of the EU target model. The current SEM detailed design and auction process were developed through a series of consultation and decision papers, these are all available on the SEM Committee’s (“SEMC”) website. These decisions were translated into legal drafting of the market rules via an extensive consultative process leading to the publication of the Trading and Settlement Code (“TSC”) on 12th April 2017 and the Capacity Market Code (“CMC”) on 2nd June 2017 (SEM-17-033) . Most recent versions of the TSC and CMC were published on the SEMO website on 1 July 2021 and 16 April 2021 respectively. The SEM Trading and Settlement Code (the “Code” or 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 Code was designated by the Regulatory Authorities on 3 July 2007 and can be modified from time to time thereafter in accordance with procedures set out in the Code. The settlement arrangements for the CRM form part of the Trading and Settlement Code (TSC) and these were published as part of the TSC Amendments Decision paper (SEM-17-024) in April 2017). The Capacity Market Code sets out the arrangements whereby market participants can qualify for, and participate in, auctions for the award of capacity and participate in secondary trading of awarded capacity. Lot 234698: Provision of Trading and Settlement Code Market Auditor of the Single Electricity Market The Services in Lot 1 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. Lot 234699: Provision of Capacity Market Auditor of the Single Electricity Market The Services in Lot 2 relate to the all-island Single Electricity Market (“SEM”) specifically the Capacity Remuneration Mechanism (“CRM”). The Services for Lot 2 comprise providing the SEM with a Capacity Market Auditor to conduct an audit of the Capacity Market Code for a multi-year period.