On the 1st October 2018, I-SEM replaced the wholesale Single Electricity Market (SEM) in all of Ireland. The I-SEM was brought in “following an instruction to the SEM Committee from the Irish and Northern Irish authorities to develop a new set of electricity trading arrangements that would meet the requirements of the EU Target Model.”[1] At the same time, the I-SEM was expected to help realize increased access to cheaper power, a more open and efficient Pan-European market and to provide the basis for further market development including intraday, forwards, futures and derivative markets to help improve risk management. However, in delivering on some of these benefits, the I-SEM also needs to offer a level playing field for all participating in the market. An aspect of this is timely and accurate settlement. Last week, I talked with Anne Elliot (Senior Product Manager) and Maurycy Widera (Software Engineering Manager) of Brady PLC about its new Energy Settlement Manager product that Brady has launched. According to Ms. Elliot, The Energy Settlement Manager (ESM) is an energy (electricity) settlements reconciliation application, which allows market participants to verify the invoiced charges received from the electricity market operator. She explained that the solution is targeted at I-SEM… continue reading
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