Northern Ireland renewable electricity generators gather to learn about impact of New Electricity Market
Owners and operators of renewable electricity generating facilities across Northern Ireland gathered recently to learn more about the impact of the Integrated Single Electricity Market (I-SEM), the new wholesale electricity market arrangement for Ireland and Northern Ireland, on their Power Purchase Agreements (PPAs).
Led by Action Renewables and Vayu Energy, the seminar held at the Glenavon House Hotel, Cookstown, offered guidance for over 100 owners of wind, solar, anaerobic digestion and biomass technologies generating renewable electricity across Northern Ireland as the new Integrated Single Electricity Market is due to go live on the 23rd May 2018.
“As EU legislation joins together various energy markets across Europe, the new Integrated Single Electricity Market (I-SEM) should provide opportunities, help to even the playing field for many renewable electricity generators, delivering increased levels of competition and driving prices down. The I-SEM will also encourage a greater level of security of supply and transparency,” said Michael Doran, Director, Action Renewables. “In its new integrated format, transactions can take place across borders through intra-day trading.”
In a climate facing uncertainty due to the impending Brexit, preparations for the I-SEM have been underway within the industry for a number of years, with the overall aims of I-SEM being to increase competition, lower energy prices, and create a more open, cohesive, European energy market. The I-SEM is being grouped together with approximately twenty other countries, with cross-border trade available across three new energy markets: the day ahead, intraday and balancing markets.
“To extract the best value from your PPA in the I-SEM, generators need to be firstly aware of the changes coming and also be much more proactive and this is where their suppliers can help. At Vayu we have been preparing for I-SEM for the last few years and we are committed to working with generators to find a solution that best fits their needs.” added Ross McConnell, Head of Power and Renewables, Vayu Energy. “Vayu and Action Renewables have been working together in partnership for a number of years developing and securing Power Purchase Agreements with local generators, which ensured the best possible payback and minimal hassle for ROCs and electricity. We will continue to work with clients to ensure that they get the optimal revenues from their renewable generation.”, he added.
With the assistance of a unique joint offering from Action Renewables and Vayu Energy, over 40% of renewable electricity generators in Northern Ireland are taking advantage of a solution which provides the best commercial value for ROCs available in Northern Ireland. The team provides excellent on-going customer service for renewable generators, ensuring maximum value with minimal hassle for those keen to achieve an attractive return on their energy produced.
To arrange a consultation and learn more about how the joint offering from Action Renewables and Vayu Energy could help you benefit from your existing or planned renewables installations, contact email@example.com or contact Action Renewables: +44 (0) 2890 727 760.