Date published:
The SEM Committee has today published a Consultation Paper on the
proposed terms of reference for the Trading and Settlement Code Market
Audit 2026.
The RAs propose the Market Audit 2026, covering the 12-month period
from 1 January 2026 to 31 December 2026, be a Core SEMO audit, with
limited expansion of scope to include: a) the calculation, application and
reporting of Market Operator charges (fixed and variable) and
imperfection charges under the TSC; and b) certain Meter Data Providers
activities.
Additionally, the RAs propose the Market Audit 2026 be reported under the
ISAE 3000 Assurance Opinion, and the materiality level to remain at 0.5%
of the estimated annual market value of electricity traded in SEM, as
governed by the TSC. With respect to MDPs work, the RAs propose applying
the same percentage threshold (a materiality level of 0.5%, with a reporting
threshold for Significant Issues set at 10% of the materiality level) of the
total aggregate metered volume reported by each MDP during the year.
Responses to this Consultation Paper should be sent to Aline M Martellini
(ammartellini@cru.ie ) and (tsc@uregni.gov.uk ) by 17:00 on 06 November
2026.