The intra-day market (IDM) allows\u00a0market participants to change their bids much closer to the time on which the power\u00a0is delivered. The intra-day market runs right up to one hour before trading.<\/p>\n
The balancing market ensures that energy supply equals energy demand. Unlike\u00a0the other ex-ante markets, only generators bid in this market, suppliers take the price\u00a0that is set. In this market, the Transmission System Operators (TSOs) decide how\u00a0demand is met by calling on generators to deliver power as needed. These actions\u00a0by the TSOs are necessary to balance the supply and demand to ensure that there\u00a0is enough power to keep the lights on for homes and businesses.<\/p>\n
The Capacity market\u00a0replaces the Capacity Payments Mechanism from the SEM. It provides a way
\nof generators recovering the fixed costs of power stations. The new market will\u00a0make sure there is enough capacity to reliably meet demand and that this capacity is\u00a0purchased in a cheaper way than under SEM. Those who provide capacity will only\u00a0be paid if their bid is successful at a capacity auction.<\/p>\n
The overall costs of these capacity payments are spread among suppliers. Those\u00a0generators that do not deliver capacity when needed (such as when there is a\u00a0shortage of power to meet demand) are subject to financial penalty.<\/p>\n\n
\n <\/div>\n","protected":false},"excerpt":{"rendered":"
Single Energy Market The All-Ireland single electricity market is the wholesale electricity market for the island of Ireland. It is regulated jointly by the Commission for Regulation of Utilities in the Republic of Ireland and the Utilities Regulator in Northern Ireland The single energy market was the first of its kind and commenced on 1 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[119,195],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/2965"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=2965"}],"version-history":[{"count":1,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/2965\/revisions"}],"predecessor-version":[{"id":18769,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/2965\/revisions\/18769"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=2965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=2965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=2965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}