1. Mods Committee Discussion I-SEM

2. I-SEM Process to Date Consultation Paper published February 2014 Responses received April 2014 Draft Decision Paper published June 2014 Responses received July 2014 Decision Paper expected in September 2014 Detailed Design Phase will follow 2

3. 3 I-SEM Timeframes Financial Transmission Rights issued by the Interconnector Owners Core of these arrangements set at EU level. Local arrangements may will be required incl fallback Core of these arrangements set at EU level. Local arrangements will still be required incl fallback. Possibility of delay to EU platform may require regional implementation for 2016 Some concepts and processes here can be leveraged from the current Trading and Settlement Code

4. Purpose of today is to stimulate thoughts of the Committee Are there parts of the current Code that can carry on to I-SEM albeit it with some changes Referring to concepts and processes as opposed to systems currently in place Have asked TSOs/SEMO to give a short presentation today to put forward some thoughts. Detailed Design Phase will have dedicated industry consultation 4 Purpose of Today