The Utility Regulator welcomes the Single Electricity Market Committee’s publication today of its final decision on the high level design of the new wholesale electricity market, the I-SEM.
This Final Decision paper describes the SEMC decisions on:
• The features of the new Energy Trading Arrangements (ETA),
• The need for a capacity Remuneration Mechanism (CRM) in the new market and
• The proposed type of CRM to be introduced.
A summary of the responses to the draft decision paper on the I-SEM High Level Design (SEM-14-045), including the rationale for the decisions taken, is also provided.
An impact assessment paper and a non-technical summary are also provided.
The I-SEM Project Team have now commenced work on the next phase of the project, which entails development of the detailed market design and its implementation. A next steps paper outlines the progress made to date and provides an indication of when upcoming publications and stakeholder engagement will take place.
If you would like further information on the I-SEM project please refer to the All-island project website.