New Irish single electricity market and its initial analysis

This paper provides a high level overview of the single electricity market (SEM) that has recently been established for the Island of Ireland. The authors of this paper have been involved with this market liberalisation programme since its beginning and provide specialised insight into the development and initial operation of this new market. This new electricity market was especially significant as for the first time; the north and south of Ireland were joined in a single understanding for the wholesale generation and sale of electricity for all consumers on the island. The paper will provide a review of the historical requirements and elements that were considered necessary for successful operation, explain the market rules and operating principles as well as the chosen mode of operation.