The System Operator Northern Ireland (SONI), in the presence of an Ofreg representative, conducted the first iteration of the North-South interconnector auction on Wednesday 24 November 2004.
There were two products on offer, namely:
1-Year N-S export - 125MW
2 year N-S export – 80MW
All available capacity was purchased for the above products.
The average successful bid price for:
(a) 1 year N-S export was £1,857.28
(b) 2 year N-S export was £3,354.50
The second iteration of the North-South auction will be held on Wednesday 1 December 2004.
Further information on the background to the auction process can be found on this website. A consultation paper on interconnector trading was issued in August 2004. A decision paper followed this in November 2004. NIAER intends to publish a report in December 2004 giving more detail and background into the results of the auction.
Notes for Editors
1.OFREG (the Office for the Regulation of Electricity and Gas) supports the Northern Ireland Authority for Energy Regulation (NIAER) the regulator of the Electrcity and Gas industries in Northern Ireland. NIAER’s powers are derived from the Electricity (Northern Ireland) Order 1992, the Gas (Northern Ireland) Order 1996 both as amended by the Energy (Northern Ireland) Order 2003.
For further information contact Terry McErlane at Weber Shandwick Telephone 028 90761007 or 07770886911