The Commission for Regulation of Utilities and the Northern Ireland Authority for Utility Regulation (also known as the Utility Regulator (UR)) , together referred to as the Regulatory Authorities (RAs), have jointly regulated the all-island wholesale electricity market known as the Single Electricity Market (SEM) covering both Ireland and Northern Ireland respectfully. The decision-making body which governs the market is the SEM Committee (SEMC).

The Capacity Remuneration Mechanism (CRM) is a system of auctions for the procurement of multiple MWs of electricity generating capacity from multiple bidders for different delivery times. This is a key feature of ensuring electricity security of supply across the Single Electricity Market (SEM). 

The RAs administration of the CRM is led by the CRM Team on behalf of the SEM Committee. This includes the administration of the rules, known as the Capacity Market Code  (CMC), execution of relevant auctions processes as defined within the CMC (including Exceptions Applications) and the setting of parameters that form inputs to each auction process (including where relevant, input in the policy positions relating to the methodologies that are used to set parameters).   

The role of the Capacity Auction Monitor (CAM) is to provide independent assurance to the SEM Committee, Regulatory Authorities and other internal and external stakeholders that the System Operators’ are correctly carrying out all of their obligations under the CMC. This includes the SOs conduct during the Provisional Qualification Process as well as the SOs conduct before, during and after running all Capacity Auctions.