Dublin, Ireland / Belfast, Northern Ireland --- (METERING.COM) --- July 5, 2007 - The legal framework for Ireland’s Single Electricity Market went active on July 3, 2007, marking the main preparatory step to the start of trading planned for November.
The Single Electricity Market is a single set of wholesale electricity trading arrangements for Ireland, combining two smaller markets to bring competition, security of supply and efficiency benefits to the electricity consumers on the island.
The two regulatory administrations, the Commission for Energy Regulation (CER) and the Northern Ireland Authority for Utility Regulation (NIAUR), have now enacted the necessary legislative framework to support the SEM. The rules, as set out in the Trading & Settlement Code, including agreed procedures on issues including the provision of metered data, invoicing, and data storage and IT security, will become binding on all generators and suppliers of electricity who will be obliged to sign up to the new market and its rules under new licence amendments.
Tom Reeves, chairman of the CER and Iain Osborne, CEO of NIAUR, have both strongly welcomed this major step towards implementation of the SEM and have acknowledged the significant effort and co-operation across the industry to get to this stage.
To reflect the joint nature of these arrangements all SEM matters will be referred for decision to a joint SEM Committee, comprising members of the two regulatory authorities as well as an independent member.