Provision of Wholesale Electricity Market Forecasting Software

Description

Since 1st November 2007 the Utility Regulator of Northern Ireland (UREGNI) and the Commission for Regulation of Utilities (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 Contracting Authorities require modelling software that has an ability to forecast wholesale electricity prices and generator schedules which range from scenario analysis to directly setting forward contracts prices and volumes. The modelling software output can be vital for informing policy decisions through detailed analysis. Please refer to the RFT for further details, including: A non-exhaustive list of the Contracting Authorities functions that will require wholesale electricity forecasting; Functional Specification; Non Functional Specification; Functional Questions; Invoicing Arrangements; Service Levels and Key Performance Indicators.