Capacity Market Code Urgent Modification – CMC_02_20 Timetable The Capacity Remuneration Mechanism is a competitive element of the Single Electricity Market designed to ensure electricity security of supply across the island of Ireland. Competitive auctions secure the necessary capacity to meet demand for delivery in a specified year. The qualification process has commenced for the upcoming capacity auction which will secure the necessary capacity for delivery in 2023/24 (known as T-4 CY2023/24). During the qualification process, the TSOs indicated that they were unable to meet the scheduled auction deadline and have requested a revision to the timetable. The proposed revised timetable will defer the auction by four weeks but will not change the delivery period for the capacity secured. To facilitate the required change in the auction timetable, a modification is required to the Capacity Market Code (CMC). The CMC sets out the arrangements whereby market participants can qualify for and participate in auctions for the award of capacity. It also includes the required timeframes for the running of auctions. In order to allow for the auction to be run as soon as possible and secure required capacity for the 2023/24 calendar year, a modification to the CMC is required as soon as possible. Today, 24th January 2020, the RAs have published the CMC modifications timetable for this proposed modification. As set out in the timetable the RAs intend to proceed to the consultation process on 28th January 2020. The document can be found here
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