The Utility Regulator welcomes the Single Electricity Market Committee’s publication today of the Consultation Paper on options for the high level design of the new wholesale electricity market.
The wholesale electricity market covering Northern Ireland and Ireland, the Single Electricity Market (SEM), is to undergo significant change. This is a requirement arising from changes to European legislation designed to harmonise cross border trading arrangements across all European electricity markets.
The Consultation Paper contains a broad range of design options that will allow full consideration of the choices facing the all-island market in achieving compliance with the legislation.
The new market will be known as the Integrated Single Electricity Market (I-SEM). This recognises continuity with the existing market while acknowledging the purpose of the new market to integrate more fully with European market arrangements.
The consultation will last for eight weeks and ends by close of business on 4 April 2014. A further consultation paper on the favoured option is planned for publication in June followed by a final decision paper to be published in August 2014.
Please see the links below for a Non Technical Summary Document and a copy of the Consultation Document. If you would like to respond to this Consultation Document please refer to the All Island Project Website (http://www.allislandproject.org/en/wholesale_overview.aspx) where a consultation response template is located.