Directed Contract Round 24: Q1 2024 to Q4 2024

Today, 6^th September 2023, the Regulatory Authorities (RAs) are publishing an Information Paper on the quantities and prices for the "Round 24” offerings of Directed Contracts (DCs).

DCs are a part of the RAs’ market power mitigation strategy to ensure that the benefits associated with the SEM are not undermined by the abuse of market power. The purpose of these contracts is to remove the incentive on ESB Power Generation to attempt to profit from the use of market power.

Supplier eligibility for DCs will be communicated by the Regulatory Authorities to each relevant supplier and to the seller (ESB) separately.

Market participants were notified of the amendments made to the process of calculating DC pricing formulae (). Participants were also informed of the SEM Committee’s decision to hold the Primary Subscription Window over six days (SEM-23-026). For the avoidance of doubt, there is no obligation for any eligible supplier to avail of this option.     

The DC Round 24 Primary Subscription Window is scheduled to be held for six business days from;

• Tuesday 12^th – Thursday 14^th September 2023 inclusive; and
• Tuesday 19^th – Thursday 21^st September 2023 inclusive.

The associated Round 24 Supplemental Subscription Window will be held on Thursday 28^th September 2023.

For further information please contact the Market Modelling Group  (mmg@cru.ie) at the CRU or Kevin Baron (kevin.baron@uregni.gov.uk) at the Utility Regulator.