Dublin, Ireland/Belfast, Northern Ireland — (METERING.COM) — May 22, 2007 – Legislation has been passed establishing the functions, powers and duties in relation to the regulation of the Single Electricity Market (SEM) in Ireland and establishing joint regulatory arrangements through a Single Electricity Market Committee.
The two regulatory bodies in Ireland – the Commission for Energy Regulation in Ireland and the Northern Ireland Authority for Energy Regulation (NIAER) – have been working together and with industry to implement the SEM on 1 November 2007, including the establishment of the necessary organisational structures and operational arrangements in order to support effective decision making in the SEM.
In terms of the legislation the SEM Committee will be the decision making authority on all SEM matters, and four areas have been identified as key SEM regulatory functions. These are Trading and Settlement Code Management, Market Monitoring, Market Modelling (including directed contracts), and SMO Regulation.
Positions in these and other areas will be filled by staff from the two agencies.