Securing new Capacity Contracts in Ireland
The Single Electricity Market’s System Operators in Ireland have today published the Final Results of the new Integrated Single Electricity Market, or I-SEM, Capacity Auction process.
Provisionally, the System Operators awarded 7,774 MW of Total Capacity Contracts to electricity generators at an auction clearing price of €41,800.00/MW per year.
The Capacity Contracts being awarded are for a 16-month period from May 2018, when I-SEM is implemented, through to September 2019 and will replace the capacity mechanism payments that generators, including SSE, currently receive.
SSE’s four thermal generation plants in the all-island electricity market – the 464MW Great Island CCGT plant, two smaller 104MW peaker plants at Rhode and Tawnaghmore, and the 590MW Tarbert power plant – each participated in this auction process.
Jim Smith, SSE plc’s Managing Director of Generation, commented:
“I’m pleased to confirm that all units at each of our four plants have secured new I-SEM Capacity Contracts. Securing capacity contracts for our thermal generation units is positive news for our fleet, for our employees, and for SSE’s operations in Ireland. More widely, it gives us clarity about the future as we look ahead towards the implementation of I-SEM from next May.
“I would like to take this opportunity to thank everyone who works so hard to maintain and operate each of our power plants on behalf of customers across the island of Ireland, and to everyone involved in helping to secure a successful outcome for SSE and our employees from the auction bid process.”