Quarterly Directed Contract Information Note - Round 21 Today, Wednesday, 8th February 2023, the Regulatory Authorities (RAs) are publishing an Information Paper on the quantities and prices for the "Round 21” 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. In May 2022, market participants were notified of amendments made to the process of calculating DC pricing formulae (SEM-22-017). Participants were also informed of the RAs decision to hold the Primary Subscription Window over 6 days. On August 24th 2022, market participants were notified that the RAs have decided to implement such amendments in DC Round 20 (SEM-22-059). The RAs are implementing such amendments in DC Round 21. Further, the RAs previously noted their intentions to consult with market participants in Quarter 1 2023, to determine if the amendments should be implemented in any subsequent DC Rounds. The DC Round 21 Primary Subscription Window is scheduled to be held for six business days from;
The associated Round 21 Supplemental Subscription Window will be held on Thursday 2nd March 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.
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