The Regulatory Authorities (RAs) in Ireland and Northern Ireland today held an industry workshop following the publication of the SEM Committee consultation paper on the new market power mitigation strategy to be applied in the future Integrated Single Electricity Market (I-SEM). The I-SEM is the new electricity market design to be implemented in the all-island market from 2017.
CEPA has been appointed by the RAs to assist in assessing the expected level of market power and develop an appropriate market power mitigation strategy for the new I-SEM market. CEPA has supported the RAs in: (1) reviewing market power metrics and mitigation measures in the current all-island SEM market and other relevant jurisdictions; (2) defining relevant markets for measuring market power; (3) assessing expected level of market power in I-SEM; and (4) formulating an effective market power mitigation strategy.
CEPA has also participated at the industry workshop presenting results of the market modelling analysis.