Quarterly Directed Contract Information Note: Round 26
Today, 6th March 2024, the Regulatory Authorities (RAs) are publishing an Information Paper on the quantities and prices for the "Round 26” 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 (SEM-22-017). 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 26 Primary Subscription Window is scheduled to be held for six business days from;
• Tuesday 12th – Thursday 14th March 2024 inclusive; and
• Tuesday 19th - Thursday 21st March 2024 inclusive.
The associated Round 26 Supplemental Subscription Window will be held on Thursday 28th March 2024.
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.