The Commission for Energy Regulation (CER) and the Northern Ireland Authority for Utility Regulation (UR), jointly called the Regulatory Authorities (RAs), have developed a single all-island electricity market (the SEM) which came into operation on 1.11.2007.

The SEM Trading and Settlement Code (the Code or the TSC) is a multilateral contract which sets out the rules and procedures concerning the sale and purchase of wholesale electricity in Ireland and Northern Ireland. The Code was designated by the Regulatory Authorities on 3 July 2007 and can be modified from time to time thereafter in accordance with procedures set out in the Code. SEMO was established as the Single Electricity Market Operator to administer the TSC. EirGrid plc. and SONI, the transmission system operators for Ireland and Northern Ireland respectively established SEMO on a contractual joint venture basis. EirGrid plc. and SONI were both granted Market Operator licences by their respective RAs in 2007. The TSC provides that the Market Auditor shall conduct an audit of the Code, its operation and implementation and the operations, trading arrangements, procedures and processes under the Code at least once a Year. This is to be based upon the terms of reference ('the Scope') for the audit published and consulted upon annually by the Regulatory Authorities. The Market Auditor assess compliance with the Code by SEMO and the Meter Data Providers (MDPs).

The Regulatory Authorities are now seeking tenders from organisations to carry out the function for the Market Auditor, as detailed in paragraphs 2.131 to paragraph 2.143 of the TSC.

Please note: It is intended that the Market Auditor will invoice EirGrid plc. directly for the work over the lifetime of the contract (three years), although the Market Auditor's reporting requirement rests with the Regulatory Authorities.