Date published:
The SEM Committee has today 11 November 2025, published a decision paper on SEM Operational Parameters for 2026.
Under the terms of the SEM Trading and Settlement Code (TSC) Part B, the Regulatory Authorities (RAs) shall determine certain parameters proposed by the Market Operator (MO) and the TSOs, as applicable, in relation to the calculation and treatment of participants' Required Credit Cover and matters related to Imbalance Settlement.
In May 2025 the RAs requested SEMO to review the parameters utilised in the calculation of Required Credit Cover and of the Price Materiality Threshold.
On 24 July 2025, the RAs received reports from SEMO (SEM 25-043a) and (SEM-25-043b) outlining their recommendations for the proposed values for the above parameters. The RAs subsequently published a consultation paper (SEM-25-043) on 8 August 2025, requesting the view of market participants on SEMO's and the TSOs' recommendations.
This paper presents the RAs' decision in relation to the operational parameters for 2026.