Update of Round 18 of Quarterly Directed Contracts Q3 2022 to Q2 2023

04 May 2022

 

Update of the Postponement of Directed Contract Round 18

Today, Wednesday 4th May 2022, the Regulatory Authorities (RAs) are publishing a notification of their decision to recommence Round 18 of the Quarterly Directed Contracts.

This follows the RAs’ decisions published on March 16th 2022 (SEM-22-008)

and April 4th 2022 (SEM-22-11) to postpone Round 18  Due to the unprecedented volatility in commodity markets

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.

Following amendments to the process of forecasting DC pricing formulae for DC Round 18, subscription windows will now be held during the following dates:

• The DC Round 18 Primary Subscription Window will be held for six business days (instead of 3) from;

- Tuesday 10th May until Thursday 12th May 2022, and

- Tuesday 17th May until Thursday 19th May 2022.

• The associated Round 18 Supplemental Subscription Window will be held on Thursday 26th May 2022.