Following the validation of the Regulatory Authorities’ (“RAs” - CRU & UREGNI) SEM PLEXOS model up until end of 2019 (SEM-17-088 & SEM-17-089), the SEM Committee has decided to commence a further validation of its SEM PLEXOS model up until the end of 2023.
The rationale for completing this additional validation (i.e. up until the end of 2023) is to facilitate the RAs in its Existing Capacity Price Cap (ECPC) assessments and Unit Specific Price Caps (USPC) assessments for the upcoming capacity auctions. Consequently, the RAs require a validated SEM PLEXOS model covering the period up to the end of 2023 that can be used to forecast general energy market outcomes, and have engaged NERA Economic Consulting in order to complete the validation. For further queries regarding the forthcoming validation, please contact Grainne Black (gblack@cru.ie) and Kevin Baron (kevin.baron@uregni.gov.uk).