Draft code for single Irish electricity settlement area

Draft trading and settlement code (225 pages, PDF) for the proposed single electricity market between Northern Ireland and the Republic of Ireland. The draft only provides a high-level overview of the algorithm intended to be used to determine the ex-post unconstrained schedule and the system marginal price that will be used as a pool price, with a note stating that this "will be updated when further details are available following the selection of the software". For capacity payments, the draft envisages that the regulators would provide a statement of the amount to be paid in each month in "fixed" and "variable" capacity payments, and an algorithm specified in the code allocates these amount between participants. There is some provision for demand-side competition into the pool but it is not obvious whether demand-side bidders would be eligible for capacity payments. The glossary of definitions is a separate 2.8M Microsoft Excel file. Responses by Friday 20 January 2006.

For further information or advice please contact Franck Latrémolière.

Filed under CER, Electricity, Ofreg.

Reckon LLP is an economics consultancy with expertise in data analysis, economic regulation and competition law.

About Reckon