Today, Thursday, 17th November 2022, the Regulatory Authorities (RAs) are publishing an Information Paper on the quantities and prices for the "Round 20” offerings of Directed Contracts (DCs).
DCs are a part of the RAs’ market power mitigation strategy to ensure that the benefits associated with the SEM are not undermined by the abuse of market power. The purpose of these contracts is to remove the incentive on ESB Power Generation to attempt to profit from the use of market power.
Supplier eligibility for DCs will be communicated by the Regulatory Authorities to each relevant supplier and to the seller (ESB) separately.
In May 2022, market participants were notified of amendments made to the process of calculating DC pricing formulae (SEM-22-017). Participants were also informed of the RAs decision to hold the Primary Subscription Window over 6 days. On August 24th 2022, market participants were notified that the RAs have decided to implement such amendments in DC Round 20 (SEM-22-059). Further, the RAs noted their intentions, following the completion of DC Round 20, to consult with market participants to determine if the amendments be implemented in any subsequent DC Rounds. On September 14th, market participants were notified of the RA’s decision to postpone DC Round 20 (SEM-22-067). On October 17th, the RAs notified market participants of their decision to proceed with DC Round 20 (SEM-22-072).
The DC Round 20 Primary Subscription Window will be held for six business days (instead of 3) from;
The associated Round 20 Supplemental Subscription Window will be held on Thursday 8th December 2022.
For further information please contact the Market Modelling Group (email@example.com) at the CRU or Kevin Baron (kevin.Baron@uregni.gov.uk) at the Utility Regulator.