Nord Pool welcomes power coupling with Ireland
Nord Pool has been working for some time to help deliver the coupling of the GB electricity market with that of Ireland. So we were pleased and proud that the market coupling successfully took place at the end of September.
When a day-ahead auction ran at 11:00 on 30 September for delivery on 1October, it was the culmination of a two-year project to enable the Irish electricity market to become part of wider European market coupling arrangements.
As a result Ireland is now, for the first time, part of the Capacity Allocation and Congestion Management guidelines (CACM) and can, utilising the Euphemia algorithm, participate in the pan European day-ahead power auction through its new Integrated Single Electricity Market (I-SEM).
Nord Pool’s Director UK and Ireland, Richard Sarti, welcomed this important development, saying: “Successful Ireland – GB coupling must be seen as a major step not just in integrating the power market in Ireland with the wider European electricity market but also for us at Nord Pool as we seek to establish ourselves in the Irish electricity market in 2019.
“We have been delighted to have played a key role in ensuring the island of Ireland’s successful coupling with the rest of Europe, ensuring simple, efficient and secure power trading for this important market.”
The new GB I-SEM market comprises three cross-border auctions; a day-ahead auction, running at 11:00 in line with the Single Day Ahead Coupling arrangements; and two new intraday cross-border auctions, running at 17:30 (offering half hourly products for delivery on the next day) and an 08:00 auction allowing for half hourly products to be delivered within day.
For more on trading through Nord Pool, visit our dedicated pages.