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S

    Same Day Value

    means as defined in Appendix A: “Standard Letter of Credit”.

     

    Schedule Demand

    means the level of Demand to be met by Price Maker Generator Units, as set out in Appendix N: “Operation of the MSP Software”, for the purpose of each run of the MSP Software.

     

    Schedule Production Cost

    means the implied cost incurred by a Generator Unit, as determined from the Accepted Price Quantity Pairs, No Load Costs and Start Up Costs and other relevant Commercial Offer Data and Technical Offer Data, of Output in accordance with the Market Schedule Quantity.

     

    Secretariat

    means the full time secretariat provided to support the Modifications Committee, in accordance with paragraph 2.157.

    For more information on Modifications please click here

    Section

    means a Section of the Code.

     

    Self Billing Invoice

    means an Invoice prepared by the Market Operator on behalf of a Participant in respect of amounts payable from the relevant account in the SEM Bank to that Participant under the Code including, inter alia, Trading Payments or Capacity Payments due to that Participant.

    For more information on Invoicing please click here

    Self Billing Invoice Data Transaction

    is a Data Transaction in relation to Self Billing Invoices detailed in Appendix G: “Invoices and Settlement Statements”.

     

    Self Billing Invoice Due Date

    means the date and time by which the payment specified in a Self Billing Invoice must be paid.

     

    SEM Bank

    means the Bank with which from time to time the Market Operator has contracted for the provision of banking services required pursuant to the Code for the purposes of the proper operation of the SEM.

     

    SEM Capacity Clearing Account

    means the account or accounts in the name of the Market Operator (holding as trustee on the trusts set out in Section 6) with the SEM Bank to and from which all Capacity Payments and Capacity Charges are made.

     

    SEM Capacity Clearing Deposit Account

    means the account or accounts in the name of the Market Operator (holding as trustee on the trusts set out in Section 6) with the SEM Bank to allow cash pooling arrangements across SEM Bank accounts.

     

    SEM Collateral Deposit Account

    means the account or accounts in the name of the Market Operator (holding as trustee on the trusts set out in Section 6) with the SEM Bank to allow cash pooling arrangements across SEM Bank accounts.

     

    SEM Collateral Reserve Account

    means an account established with the SEM Bank by a Participant and the Market Operator in the name of the Market Operator pursuant to Section 6 for the purpose of comprising part or all of and held as the trusts set out in a Participant’s Posted Credit Cover.  For more information on SEM Collateral Reserve Accounts please click here

    SEM Collateral Reserve Assets

    means the aggregate of: (1) amounts from time to time credited to the SEM Collateral Reserve Account(s) and SEM Collateral Deposit Accounts; (2) amounts which any Participant, where applicable, is from time to time obliged to pay to the credit of their respective SEM Collateral Reserve Accounts; and (3) Interest receivable on the SEM Collateral Reserve Account(s).

     

    SEM Creditor

    means a Participant to which payments are due under the Code.

     

    SEM Day1+

    means the defined scope of changes to the Central Market Systems agreed with all parties to the Trading and Settlement Code and with the Regulatory Authorities, to be deployed at an agreed date post Market Start Date

     

    SEM Deposit Account

    means each of the SEM Trading Clearing Deposit Account; SEM Capacity Clearing Deposit Account and SEM Collateral Deposit Accounts

     

    SEM Trading Clearing Account

    means the account or accounts in the name of the Market Operator (holding as trustee on the trusts set out in Section 6) with the SEM Bank to and from which all Trading Payments and Trading Charges are made.

     

    SEM Trading Clearing Deposit Account

    means the account or accounts in the name of the Market Operator (holding as trustee on the trusts set out in Section 6) with the SEM Bank to allow cash pooling arrangements across SEM Bank accounts.

     

    Sending Party

    means the Party that initially sends a Data Transaction.

     

    Settlement

    means financial settlement of the Pool, through determination of trading-related payments, charges, fees and costs, detailed in Self Billing Invoices and Invoices issued by the Market Operator to Participants.

    For more information on Settlement, please click here

    Settlement Calendar

    means a calendar for Settlement published as set out in paragraph 6.47.

    Latest SEMO Settlement Calendar

    Settlement Day

    means a period starting from 00:00 and ending at 24:00 each day.

     

    Settlement Dispute

    means a Dispute arising under paragraph 2.282 or paragraph 2.284.

     

    Settlement Item

    means any payment, charge, cost, fee or line listed in a Settlement Statement.

     

    Settlement Period

    means Billing Period or Capacity Period or both of them as the context may require.

     

    Settlement Query

    means a query raised by a Party in accordance with paragraph 6.94 and 6.95.

    For more information on Settlement Queries please click here

    Settlement Reallocation

    means an instrument that can be used by Participants (which may be Participants of the same Party) to reduce the amount of Required Credit Cover by entering into a Settlement Reallocation Agreement.

     

    Settlement Reallocation Agreement

    has the meaning set out in paragraph 6.235 of the T&SC.

     

    Settlement Reallocation Request

    means a request by the Debited Participant to the Market Operator to put in place a Settlement Reallocation Agreement between itself and the Credited Participant.

     

    Settlement Recalculation Threshold

    means a percentage of change in Metered Generation or Market Schedule Quantity or λ or φ in a Trading Day that results from an Upheld Dispute or the resolution of a Data Query or a Settlement Query which will result in the Market Operator re-running the MSP Software or re-calculating the Ex-Post Loss of Load Probability, as appropriate.

     

    Settlement Rerun

    means a rerun of Settlement for a given Settlement Period in accordance with paragraph 6.70 to paragraph 6.74 of the T&SC

     

    Settlement Rerun Statement

    means a Settlement Statement in respect of a Settlement Rerun.

     

    Settlement Risk Period

    means the total period covered by the Actual Exposure Period and the Undefined Potential Exposure.

     

    Settlement Statement

    means a report based on a defined data set that incorporates a set of variables used to calculate all payments and charges to a Participant in respect of its Supplier Units and Generator Units for a given Billing Period or Capacity Period, as further described in Appendix G: “Invoices and Settlement Statements”.

     

    Shadow Price

    means a component of the System Marginal Price for each Trading Period, calculated by the MSP Software in accordance with Appendix N: “Operation of the MSP Software”.

    For more information on shadow price please click here

    Short Name

    means the short name associated with a particular Generator Unit or Supplier Unit.

     

    Shortfall

    means, where any Participant fails to make any payment due under the Code (including, for the avoidance of doubt, any payment required to be made as a result of a decision of the DRB) by the Payment Due Date, the amount outstanding together with any applicable Interest and as more particularly provided for in paragraph 6.55.

     

    Short-Term Maximisation Capability

    means that part of Technical Offer Data for certain Generator Units which relates to an expectation of the level of Output that could be achieved, on a reasonable endeavours basis, under a Maximisation Instruction (and which may exceed the Availability declared under the relevant Grid Code).

     

    Short-Term Maximisation Time

    means that part of Technical Offer Data for certain Generator Units which relates to an expectation of the time that the Short-Term Maximisation Capability could be maintained under a Maximisation Instruction.

     

    Shut Down

    means the process of shutting down a Demand Side Unit in respect of Demand Reduction.

     

    Shut Down Cost

    means the costs associated with Shut Down of a Demand Side Unit.

     

    Single Electricity Market or SEM

    means the wholesale all-island single electricity market established as described in paragraph 1.1.

     

    Single Ramp Down Rate

    means the limit applied within the MSP Software to decreases in the Market Schedule Quantity of individual Generator Units between successive Trading Periods, calculated in accordance with Appendix N: “Operation of the MSP Software”.

     

    Single Ramp Up Rate

    means the limit applied within the MSP Software to increases in the Market Schedule Quantity of individual Generator Units between successive Trading Periods, calculated in accordance with Appendix N: “Operation of the MSP Software”.

     

    SO Interconnector Trade

    means a trade conducted across an Interconnector by the relevant System Operator, after the calculation of Modified Interconnector Unit Nominations, using the Interconnector Residual Capacity Unit for that Interconnector.

     

    Soak Time Cold

    means the time which the Generator Unit must remain at that Soak Time Trigger Point Cold during a Cold Start.

     

    Soak Time Hot

    means the time which the Generator Unit must remain at that Soak Time Trigger Point Hot during a Hot Start.

     

    Soak Time Trigger Point Cold

    means a constant MW level at which a Generator Unit must remain while loading up between zero MW and Minimum Stable Generation after a Cold Start.

     

    Soak Time Trigger Point Hot

    means a constant MW level at which a Generator Unit must remain while loading up between zero MW and Minimum Stable Generation after a Hot Start.

     

    Soak Time Trigger Point Warm

    means constant MW level at which a Generator Unit must remain while loading up between zero MW and Minimum Stable Generation after a Warm Start.

     

    Soak Time Warm

    means the time which the Generator Unit must remain at that Soak Time Trigger Point Warm during a Warm Start.

     

    Special Unit

    means a Generator Unit or Supplier Unit that is subject to special treatment in accordance with the rules for Special Units set out in Section 5.  The Units concerned are Interconnector Units, Energy Limited Generator Units, Pumped Storage Units, Autoproducer Units, Generator Units Under Test and Demand Side Units.

     

    Standard & Poors

    means the credit rating agency known by that name, a division of McGraw-Hill Companies Inc.

     

    Standard Participant

    means in relation to the calculation of Required Credit Cover, a Participant that is neither a New Participant nor an Adjusted Participant.

     

    Start of Restricted Range 1

    means the start point in MW of the first restricted range of operation of a Generator Unit for the purpose of Appendix O: “Instruction Profiling Calculations” only.

     

    Start of Restricted Range 2

    means the start point in MW of the second restricted range of operation of a Generator Unit for the purpose of Appendix O: “Instruction Profiling Calculations” only.

     

    Start Up

    means the process of bringing a Generator Unit to a Synchronised state, from a Cold, Warm or Hot (Desynchronised) state.

     

    Start Up Costs

    means the costs associated with Start Up.

     

    Starting Optimisation Overlap Period

    means, for any given Optimisation Time Horizon and the associated run of the MSP Software, that part of the Optimisation Time Horizon that was included in the Optimisation Time Horizon of the Preceding MSP Run.

     

    Station Address

    means the address of a particular Generator Unit or group of Generator Units.

     

    Station ID

    means the identifier associated with a particular Generator Unit or group of Generator Units.

     

    Station Name

    means the name associated with a particular Generator Unit or group of Generator Units.

     

    Statutory Demand

    means a statutory demand as defined in paragraph 103 (1) (a) of the Insolvency (Northern Ireland) Order 1989.

     

    Submission Protocol

    means the protocol for submitting Data Transactions, as set out in the Appendices.

     

    Supplier

    means a Participant licensed to supply electricity under Section 14(1)(b), (c) or (d) or Section 14(2) of the Electricity Regulation Act 1999 (Ireland) or section 10 of the Electricity (Northern Ireland) Order 1992.

     

    Supplier of Last Resort

    means, in relation to Ireland, the person designated as supplier of last resort under the European Communities (Internal Market In Electricity) Regulations, 2005 (S.I. 60/2005) (Ireland); and

    in relation to Northern Ireland, a supplier that is directed by the NIAUR pursuant to its supply licence to supply electricity to premises in connection with the revocation of the supply licence of another supplier.

     

    Supplier Suspension Delay Period

    means the period commencing at the time of issue of any Suspension Order in respect of a Supplier Unit and represents the minimum period before such an Order may take effect in respect of any Supplier Unit specified in the Suspension Order.  The duration of the Supplier Suspension Delay Period shall be as determined by the Regulatory Authorities from time to time in accordance with paragraph 2.249.

     

    Supplier Unit

    means the Unit comprising of one or more Generators or Demand Sites which are not Generator Units (for which metered consumption may be positive or negative where such aggregated metered consumption is available). For the avoidance of doubt all Associated Supplier Units, Trading Site Supplier Units and Error Supplier Units shall be Supplier Units as well as other Supplier Units that do not fall into those classes.

     

    Supplier Unit Capacity Settlement Statement

    means a Settlement Statement in relation Capacity Charges for a Supplier Unit.

     

    Supplier Unit Capacity Settlement Statement Data Transaction

    is a Data Transaction in relation to Supplier Unit Capacity Settlement Statements detailed in Appendix G: “Invoices and Settlement Statements”.

     

    Supplier Unit Energy Settlement Statement

    means a Settlement Statement in relation Energy Charges for a Supplier Unit.

     

    Supplier Unit Energy Settlement Statement Data Transaction

    is a Data Transaction in relation to Supplier Unit Energy Settlement Statements detailed in Appendix G: “Invoices and Settlement Statements”.

     

    Supply Participant

    means a Participant who has registered Supplier Units except Error Supplier Units.

     

    Suspension

    means the process whereby the Market Operator suspends a Party from trading in the Pool in respect of some or all of its registered Units in accordance with a Suspension Order issued under paragraphs 2.243 to 2.246 or the process whereby the Market Operator suspends an Interconnector from importing energy to the Pool and from exporting energy from the Pool in accordance with paragraph 2.84 or paragraph 2.96.  “Suspend” and “Suspended” shall be construed accordingly.

     

    Suspension Order

    means an order from the Market Operator to a Party in accordance with paragraphs 2.243 or 2.246 stating that its participation in respect of any or all of its Units will be suspended in accordance with the terms of the Suspension Order or an order from the Market Operator stating that an Interconnector will be suspended in accordance with paragraph 2.84 or paragraph 2.96.

     

    Synchronisation

    means the process where a Generator Unit or Interconnector is preparing to connect and produce energy on the system to which it is Connected in accordance with a Dispatch Instruction or its Market Schedule Quantity as appropriate, so that the frequencies, voltage levels and phase relationships of that Generator Unit or Interconnector, as the case may be and the system to which it is Connected are aligned.  “Desynchronisation”, “Synchronised” and “Desynchronised” will be interpreted accordingly.

     

    Synchronous Start Up Time Cold

    means the time taken to bring a Generator Unit to a Synchronised state from a Cold (Desynchronised) state.

     

    Synchronous Start Up Time Hot

    means the time taken to bring a Generator Unit to a Synchronised state from a Hot (Desynchronised) state.

     

    Synchronous Start Up Time Warm

    means the time taken to bring a Generator Unit to a Synchronised state from a Warm (Desynchronised) state.

     

    System Characteristics Data

    means data submitted after the Trading Day by the System Operators identifying the Average System Frequency and the Nominal System Frequency.

     

    System Characteristics Data Transaction

    is a Data Transaction in relation to System Characteristics detailed in Appendix K: “Market Data Transactions”.

     

    System Marginal Price or SMP

    means the price at which one MWh of electricity is sold under the Code in any given Trading Period, as calculated in accordance with Sections 4, 5 and 6.

    For more information on SMP, please click here

    System Operator

    means, in respect of Northern Ireland, the holder of a licence to participate in transmission granted under Article 10(1)(b) of the Electricity (Northern Ireland) Order 1992 as may be amended or replaced from time to time, and which requires the licensee to co-ordinate, and direct, the flow of electricity onto and over the Northern Ireland Transmission System; and in respect of Ireland, the holder, for the time being, of a licence granted under Section 14(1)(e) of the Electricity Regulation Act 1999 (Ireland) as may be amended or replaced from time to time, in its capacity as the holder of that licence.  References to the “System Operators” shall be construed accordingly.

    System Operator Market Data Transactions

    are Data Transactions detailed in Appendix K: “Market Data Transactions”.

     

    System Parameters Data

    means data consisting of Combined Loss Adjustment Factors for each Generator Unit in each Trading Period.

     

    System Parameters Data Transaction

    is a Data Transaction in relation to System Parameters detailed in Appendix K: “Market Data Transactions”.

     

    System per Unit Regulation

    means a parameter which is used in the calculation of the Tolerance for Over Generation and the Tolerance for Under Generation used in the determination of Uninstructed Imbalance Payments.

     

SEMO is a joint venture between EirGrid PLC and SONI Limited