The Retail Market Design is the set of processes and standards whereby the participants in the retail electricity market interact i.e. the ‘rules of the road’ for the retail market. The Industry Governance Group (IGG) is the forum where the Market Design is discussed.
The most recent release for the Retail Market Design was on 16th of February 2021, a Schema Release. This is now the current, baselined Market Design which is at V13.0.
About the Market Design
The Market Design includes:
- Market Procedure Documents
- Market Messages
- Briefing Papers
- Working Practices
- Technical Guides for Messaging
All of this documentation is subject to formal change control.
The Market Design is part of a wider framework that includes documents that are agreed outside the Industry Governance Group (IGG).
This framework includes:
- The Market Design
- Licenses & Codes
- Service Levels
RMDS is responsible for the maintenance, publication and circulation of information relevant to Retail Market Design.
Retail Market Model
Below is the High Level Business Flow of the Retail Market Model for the Market Design.