Renewable energy experts Action Renewables and Vayu Energy recently teamed up at Edenmore Golf and Country Club, Magheralin, to host a free workshop geared towards renewable electricity generators across Northern Ireland. The aim of the event was to help local businesses better-understand expected changes to the electricity market and ensure they are getting the most from the renewable electricity they produce. It was the second event in a series of workshops, well attended by local renewable electricity generators, following a successful first event held in Cookstown in March.
This year, renewable electricity generators across Northern Ireland and the Republic of Ireland will see a change in market arrangements following the implementation of the Integrated Single Electricity Market (I-SEM). The new wholesale electricity market arrangement – originally set to come into effect on 23rd May 2018 – will now be implemented in October 2018 and is designed to integrate the all-island electricity market with European electricity markets.
Helping renewable electricity generators broaden their understanding of the new market and its impact on their Power Purchase Agreements (PPAs) and Renewable Obligation Certificates (ROCs), Action Renewables and Vayu Energy partnered to lead a free I-SEM-focused workshop at Edenmore Golf and Country Club in Magheralin, which was open to all Northern Ireland-based generators or those with interest in the sector.
The event outlined the challenges and opportunities of the new electricity market for local generators and discussed different options on how to get the best value for your PPA in I-SEM.
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.
The new Integrated Single Electricity Market (I-SEM) will bring about significant changes as it enables the free flow of energy across borders and diversifies the way in which electricity can be traded. These are changes which need to be managed by both large and small electricity generators to help maximise their returns.
“Currently in the existing market there is one price for electricity for both generators and consumers and the market basically settles itself so nobody has to do anything. However, in the new I-SEM market there will be multiple markets and prices (Day-ahead, intraday and balancing). Also, there will be the concept of balance responsibility which means that being able to forecast what you will generate will become more important.” said Michael Doran, Director, Action Renewables.
Ross McConnell, Head of Power and Renewables, Vayu Energy, added, “Generators need to be firstly aware of the changes coming with I-SEM 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. Vayu and Action Renewables have been working together in partnership for a number of years developing and securing Power Purchase Agreements with local generators and will continue to work with clients to ensure that they get the optimal revenues from their renewable generation.”
Additional stops on the roadshow are planned in advance of the October roll-out of I-SEM. If you are interested in attending one of the upcoming seminars or would like to find out more, contact firstname.lastname@example.org. To 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.