The European Power Exchange EPEX SPOT and the clearing house European Commodity Clearing (ECC) have supported the Irish power exchange SEMOpx by setting up a Day-Ahead and Intraday market in Ireland and Northern Ireland, including clearing and settlement.
The markets were launched on 30 September 2018, with first trading day for delivery on 1 October.
In the context of a broad power market reform in Ireland, the Irish Transmission System Operator (TSO) EirGrid and the Northern Irish TSO SONI launched a tender for the operation of Day-Ahead and Intraday markets as well as clearing and settlement. EPEX SPOT and ECC jointly won this tender in 2017. Since then EPEX SPOT and ECC have been supporting the local power exchange SEMOpx, which is a joint venture of SONI and EirGrid, in setting up a Day-Ahead and Intraday market.
The new I-SEM Day-Ahead market is coupled within the Multi-Regional Coupling and offers hourly contracts as well as complex orders. Furthermore, three Intraday auctions have been set up. Two of these will be coupled with Great Britain, one remains local within I-SEM. The offer is further complemented by local continuous trading. All auctions are accessible via the EPEX Trading System ETS, a robust solution used on all EPEX SPOT markets across Europe. Continuous Intraday trading runs on the M7 system, which is already used on all continental continuous markets of EPEX SPOT. All transactions are cleared and settled by ECC.
EPEX SPOT and ECC have a long standing expertise in cooperating with power exchanges across Europe and in the provision of market operation and clearing services.
