The Single Electricity Market Committee is pleased to report the publication of its Final Decision Paper on the High Level Design of the new wholesale electricity market, I-SEM.
This Final Decision Paper describes the SEM Committee decisions on:
The features of the new Energy Trading Arrangements (ETA);
The need for a Capacity Renumeration Mechanism (CRM) in the new market; and
The proposed type of CRM to be introduced.
It also presents a Summary of the Responses to the Draft Decision Paper on the I-SEM High Level Design (SEM-14-045) followed by the reasoning behind the decisions.
The Final Decision Paper is supported by an Impact Assessment Paper which is also published. Alongside these documents, the SEM Committee is also publishing a Non-technical summary.
The I-SEM Project Team have now commenced work on the next phase of the project, which entails development of the detailed market design and its implementation. A Next Steps paper outlines the progress made to date and provides an indication of when upcoming publications and stakeholder engagement will take place.