Ireland and Northern Ireland have until the end of 2017 to change the wholesale electricity market to meet the requirements of the European 3rd package of energy legislation. This legislation places a number of requirements on the wholesale electricity markets of Member States with the aim of improving energy trade within the EU. The Regulatory Authorities (RAs) for Ireland and Northern Ireland have agreed the High Level Design of the market required for the third package - and called that market the I-SEM (Integrated Single Electricity Market).
In addition to the energy markets, the High Level Design includes a Capacity Remuneration Mechanism (CRM) to ensure that sufficient generation is available to keep the lights on. The CRM will pay for the capacity to produce electrical energy through the I-SEM via a competitive reliability options auction process.
The RAs today publish the second Decision Paper on the detailed design of the new I-SEM Capacity Remuneration Mechanism.
This paper is published following an extensive consultation process and industry engagement. It contains a summary of the comments received during the consultation, the SEM Committee's responses to those comments and the SEM Committee's decisions on the key issues.
View the CRM detailed design consultation paper 2
View the CRM detailed design consultation paper 2 responses