The vendor required to provide to ensure its energy risk management program and operational capabilities comply with all applicable market rules, protocols, guidelines, and industry best practices.
- Energy risk management (ERM) program review
• Governance and policies: assess the risk management policies, objectives, and governance structure, ensuring alignment with corporate goals and regulatory requirements.
• Risk identification and assessment: evaluate the systematic process used to identify, analyze, and categorize relevant market, credit, operational, and regulatory risks.
• Risk mitigation and control design: review the design and implementation of controls and strategies to treat identified risks, including hedging strategies (speculative trading is often prohibited), internal controls, and insurance.
• Monitoring and reporting: examine processes for continuous monitoring of risk indicators (kris) and internal controls, along with the reporting structure to senior management and governing bodies.
• Continuous improvement: evaluate the framework for regular review and update of policies and controls to adapt to evolving market and regulatory changes.
- Compliance and regulatory adherence
• Protocols and guidelines: verify compliance with all relevant ISO and RTO protocols and operating guides, such as the council nodal protocols.
• Financial and creditworthiness: confirm the QSE meets the ISO and RTO's financial security and credit requirements, which may involve providing audited financial statements and credit ratings.
• Technical and system interface: demonstrate a functional interface with all required ISO and RTO computer systems and an ability to perform necessary testing.
• Business continuity and disaster recovery: evaluate the QSE backup and disaster recovery plans to ensure continued operations during disruptions.
- Operational procedures
• Review detailed internal controls.
• Proof of financial capability and credit standing.
• Documentation of operational procedures for all qualified scheduling entity (QSE) functions.
• Evidence of successful qualification testing and ongoing communication with the ISO and RTO.
- Questions/Inquires Deadline: January 16, 2026
