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 Market Readiness FAQs 

 
1. What is I-SEM Market Readiness?



2. How is Readiness Assessed?



3. Who is involved in I-SEM Market Readiness Reporting?



4. What are the roles of those involved in the I-SEM Market Readiness Reporting?



5. Why are we doing Market Readiness Assessments?



6. When does Market Readiness Reporting start?



7. What are the timelines for Market Readiness Reporting?



8. Where can I find more information on the I-SEM Market Readiness Reporting Process?



9. Should I participate in the Market Readiness Assessments and Reporting?



10. What is a Participant Readiness Coordinator (PRC)? And should I register as one?



11. How does Market Readiness relate to other I-SEM activities?



12. How will I be kept informed of the I-SEM Market Readiness?



13. What is the relationship of Readiness Assessments to Market Trial commencement and Go-Live?



14. Will the Market Readiness Status be independently reviewed?




1. What is I-SEM Market Readiness?

Before the decision to start live operation of I-SEM can be made, there must be confidence that preparations have been completed satisfactorily and, consequently, that the risks associated with live operation have been reduced to an acceptable level. “Market Readiness” means the extent to which the arrangements and components of I-SEM are ready for live operation and Participants are ready to fulfil their obligations in I-SEM.

The assessment of Market Readiness encompasses both Market Participants and the providers of central infrastructure (that is, the TSOs, Interconnector Owners, and Meter Data Providers). Since component markets of I-SEM open separately, the readiness of each (FTR, CM, DAM/IDM, BM and Imbalance Settlement) needs to be assessed individually.

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2. How is Readiness Assessed?

The Market Readiness Team of the TSOs’ I-SEM Project coordinates the assessment and reporting of Market Readiness. Participants are asked to complete an on line survey providing information about their readiness status, and this information is consolidated into a summary report by the Market Readiness Team.

The online survey that Participants complete constitutes an assessment framework, defining steps towards readiness. It includes, for each market:

  • A set of metrics, covering the main components of the market arrangements (such as legal arrangements, systems, and business processes).
  • For each metric, a set of criteria/milestones defining steps towards completion and readiness (Participants will use these to self-assess their status and progress).
  • For each Criterion/milestone, an indicative date for completion.
  • Guidelines for use.

All Participants use the same assessment framework, and the guidelines describe how each type of Participant should use the metrics and criteria.

Participants are asked to self-assess their status using the assessment framework.

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3. Who is involved in I-SEM Market Readiness Reporting?

All I-SEM Participants are invited to contribute information into Market Readiness assessments. The intent is that all types of Market Participants will contribute, so that a representative overall picture is produced. The figure below illustrates the overall picture.



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4. What are the roles of those involved in the I-SEM Market Readiness Reporting?

The Figure below shows the roles of those involved in producing the Readiness Assessment and report.



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5. Why are we doing Market Readiness Assessments?

The Market Readiness Assessments serve two purposes. First of all, earlier reports provide valuable insights into any risks and issues that may arise during development. Subsequently, the reported Readiness Status will be a key input into the decision making processes for the start of the market trial and go-live.

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6. When does Market Readiness Reporting start?

Market Readiness reporting has already commenced. The reports produced so far can be found here. Simply filter by ‘Market Readiness’ under the ‘Category’ drop-down list as per below.



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7. What are the timelines for Market Readiness Reporting?

In general, the timing of reports will be set to support major decision making events; that is the decisions to start trialling and to start live operation. The frequency of reporting will increase as the start of trialling and go-live approaches.

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8. Where can I find more information on the I-SEM Market Readiness Reporting Process?

The description of the I-SEM Market Readiness Reporting Process can be found in the Market Readiness Reporting Strategy (Link Here) and Market Readiness Reporting Plan (Link Here).

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9. Should I participate in the Market Readiness Assessments and Reporting?

It is important that Participants contribute to the Readiness Assessment Process: clearly, the more Participants that take part, the better the quality of the overall picture produced will be. The Assessment process provides an opportunity for Participants to identify areas of concern. Further, as well as contributing to the summary picture, Participants benefit individually by taking part in the process: the assessment framework is a valuable tool that Participants may use to present and communicate their status within their own organisations.

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10. What is a Participant Readiness Coordinator (PRC)? And should I register as one?

The I-SEM Project Market Readiness programme of work is an integral part in the delivery of a Market Go-Live Decision. As such, each organisation has been asked to nominate a Participant Readiness Coordinator (PRC) to be the primary point of contact for the Market/Participant Readiness and the Project Managers Group.

The PRC’s responsibilities are to:

  • Determine the readiness criteria for their organisation, and the milestones within each criterion which are relevant to their organisation.
  • Assess progress against the defined readiness criteria
  • Take any other actions necessary to ensure readiness for participation in the market
  • Attend and engage with the Project Managers Liaison Group
  • Ensure any I-SEM Updates, Change Requests/Impact Assessments or important notices etc. are communicated to the appropriate people within their organisation
  • Address any issues and/or concerns related to readiness - arising from the readiness assessment, or otherwise identified by the participant or the I-SEM Project

If you would like to nominate a Participant Readiness Coordinator from your organisation, please email the following information to I-SEMProject@sem-o.com:

Organisation Details:
1. Organisation
2. Associated Party / Parties

PRC Details:
1. Name
2. I-SEM Role
3. Phone No.
4. Email

Alternate PRC Details:
1. Name
2. I-SEM Role
3. Phone No.
4. Email

For more information, please see the Terms of Reference for the PMG here.

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11. How does Market Readiness relate to other I-SEM activities?

Market Readiness Assessment looks across all the aspects of each of the component markets of I-SEM. Hence, business readiness and the readiness of systems, processes, and legal arrangements are all included within the assessments.

The Market Readiness Assessment process, which is already underway, provides periodically an overall picture of how I-SEM preparations are progressing. Consequently it provides valuable indications of where Participants see particular challenges.

Market Readiness assessments will form important inputs into the decision making processes for:
1) The Start of the Market Trial
2) Go-live

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12. How will I be kept informed of the I-SEM Market Readiness?

Market Readiness Assessment looks across all the aspects of each of the component markets of I-SEM. Hence, business readiness and the readiness of systems, processes, and legal arrangements are all included within the assessments.

All Market Readiness reports are published here. Simply filter by ‘Market Readiness’ under the ‘Category’ drop-down list. The Readiness reports will be presented and discussed at the Project Managers Group.

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13. What is the relationship of Readiness Assessments to Market Trial commencement and Go-Live?

The RAs intend to produce papers that will describe the framework for decision making processes and the associated criteria to be used to guide decision making.

Market Readiness assessments will form an important input into these decision making processes for both the commencement of the Market Trial and the Go-live decision.

It may be that the Readiness Assessment report may highlight areas for which the specified criteria have not clearly been satisfied. In such cases, it would be appropriate to carry out an assessment of the implied risk as part of the decision making process.

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14. Will the Market Readiness Status be independently reviewed?

Yes, the TSOs’ I-SEM project will be appointing an independent auditor who will review the reported status of I-SEM Market Readiness. More details will be discussed in the Project Managers Group.

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