This event celebrated the partnership that ABB undertook with 80% of the Irish Electricity Power Market participants and the successful transition to I-SEM when the market entered operation on 1st October 2018. The new Irish market arrangements were discussed in detail, with expert analysis and leading market experts that gave an insight into this major market transition. The seminar uncovered the lessons learned by the industry throughout the transition and looked at next steps for the market, as well as the new opportunities and benefits of EU electricity integration and compliance for market participants, large and small.
I-SEM went live on the 1st October following almost 3 years of project delivery and teamwork from ABB, in partnership with Eirgrid. The I-SEM system replaces the SEM system which ABB previously delivered and has been in operation since November 2007. I-SEM implements the new set of electricity trading arrangements that were required to meet the requirements of the EU Target Model. The new arrangements affect all participants in the market and will be implemented on the island of Ireland via the I-SEM programme. It is anticipated that I-SEM will bring significant benefits, including, but not limited to:
- Increased access to cheaper sources of electricity
- A more open and efficient pan-European electricity market delivering benefits to consumers
- A basis for the development of intraday, forward, futures and derivative markets that enable investors and operators manage risk
The I-SEM event gave 100 market leading individuals the chance to understand how this transition benefits the prosumer and the consumer. Attendees were welcomed by Eddie Gough (Director and Business Development Manager, ABB) and Annabel Blagg (Account Manager, ABB) who provided a short overview of I-SEM and ABB Ireland. Then, Dr. Anser Shakoor (Principal Consultant, Advisory, ABB) discussed how the European energy market is changing and I-SEM can lead into a major shift in these markets.
James Mitchell, Principal consultant for ABB gave a ‘deep-dive’ view into understanding the enhancements I-SEM offers market stakeholders, as well as showing that the data I-SEM provides will allow for transparency within the market. James was followed by Chip Fox, (Product Management Director, ABB) held a panel session with Anne-Marie McCague of the Irish Wind Energy Association, Wolfram Vogel of EPEX Spot and Severin Garanzuay of Garanzuay Consulting to highlight, not only the significance of this evolution in the Irish market, which has been facilitated by ABB product and personnel; but also the major impacts renewables will have in future markets, which put’s ABB at the forefront of running the world without consuming the earth.
Liz Kelly, Principal Consultant for ABB closed off what was an exceptional day with insight into I-SEM business processes. The phenomenal response to this event, which is the third event of its kind in Ireland, showcases the importance of ABB writing the future of energy production with a stronger, smarter and greener grid.