Single Electricity Market
The All-Island Project for the Island of Ireland for Energy Regulation is a joint initiative run by the Commission for Energy Regulation (CER) & the Northern Ireland Authority for Utility Regulation (NIAUR)] under a Single Electricity Market Operator for the Island of Ireland . In August 2004 a memorandum of understanding was signed by the CER and NIAER.The memorandum of understanding established a series of principles for the development of a single wholesale electricity market (Single Electricity Market) for the Republic of Ireland and Northern Ireland.
In November 2004 a development framework for the All Island Market for Electricity was agreed upon by the Irish Department of Communications, Marine and Natural Resources (DCMNR), the Northern Ireland Department of Enterprise, Trade and Development (DETI), the CER and the NIAER.An additional memorandum of understanding was agreed upon in June 2005 between the respective transmission system operators in the Republic of Ireland and Northern Ireland. ESB National Grid (ESBNG), now EirGrid, and SONI committed to combining their resources to work cooperatively towards the establishment of a single electricity market. The agreement between EirGrid and SONI to establish the market was formally acknowledged and approved by the CER and NIAER on the 10th of June 2005 .
The 2 transmission operators for ROI and NI are regulated between System Operator for Northern Ireland (S.O.N.I.) Ltd a wholly owned subsidiary of Northern Ireland Electricity and part of the Viridian Group and Eirgrid, the System Operator for the Republic of Ireland though as of 22 August 2008, EirGrid agreed to buy System Operator Northern Ireland from Viridian plc for approx £30m GBP, subject to regulatory approval. This transaction was recently completed
Read more about this topic: Commission For Energy Regulation
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