Goodbye Yellow Brick Road: REFIT in I-SEM

Last week the Department of Communications, Climate Action & Environment (DCCAE) decided on the transition of REFIT to I-SEM. DCCAE confirmed that it will adopt a “Blended Approach” to the calculation of the Total Market Revenue (TMR), which is used to estimate the level of support provided under the scheme. It is particularly pertinent as the 17 August deadline to change PPA provider ahead of I-SEM go-live is fast approaching.

In this week’s blog, we discuss the implications for trading supported generators’ revenues.

Related thinking

Low carbon generation

PSO Levy 2022/23: RESS to the Rescue

This week we look at how renewable generation is putting money back in consumers’ pockets - a trend which, based on the power price forecast from our All-Island Forward Curve report, is expected to continue until 2027. Last week the Commission for Regulation of Utilities (CRU) published their final decision...

Net zero corporates and ESG

Q2 2022 All-Island Power Market Outlook to 2030 overview

Our latest All-Island Power Market Outlook to 2030 report provides a taster of the insights from our Q2 All-Island Forward Curve report. Changes to the SEM, GB and European Markets over the last quarter have been incorporated into our models, including delays in commissioning and new capacity plans, to revise...

Energy storage and flexibility

Five key trends from the flexible asset PPA market

On 20 May, we published our sixth edition of our Flexible Asset PPA Market report. This is our biannual survey and analysis of the Power Purchase Agreement (PPA) market for flexible assets in GB, seeking to understand the market size, active offtakers and optimisers in the space, latest market trends,...

Commercial and market outlook

Perspective | Is the design of the electricity market costing consumers money?

This article is from our Energy Spectrum publication which was published on 4 March 2022. It has become increasingly clear the existing market design is unfit for either a future net zero world or a period of fossil fuel price crisis, but what market design might be best for our...

Energy storage and flexibility

All-Island Power Market Outlook to 2030

This report provides an annual overview of trends for the All-Island Power Market out to 2030 using outputs from Cornwall Insight’s latest forward curve for the All-Island (AI) Single Electricity Market (SEM) covering Northern Ireland and the Republic of Ireland. This publication is based on comprehensive market and asset-level power...

Low carbon generation

High and Volatile: Trends from our Q421 Green Power Forecast

At the end of January we released our latest Green Power Forecast, projecting renewables generators revenues over a five-year horizon whilst also providing Power Purchase Agreement (PPA) pricing and benchmarking updates, and a survey to gauge the latest renewables market trends. Amid the current “energy crisis” arising from an underlying...

Low carbon generation

Week-on-week day-ahead power price losses in the SEM

The first reported week of February 2022 recorded week-on-week day-ahead power price losses in the SEM. Source: SEMO/Cornwall Insight Ireland Despite recent week-on-week price losses, day-ahead power prices remain significantly higher than the prices observed in the opening week of February last year, currently out turning 171.0% higher. Day-ahead power...

Energy storage and flexibility

Five highlights from our latest PPA market research

Recently, as part of both our Renewable PPA Market Share and Green Power Forecast reports, we have undertaken research into the renewables PPA market, hearing views from generators, offtakers and other renewables PPA market participants. Our recent Chart of the Week detailed the latest research from our Renewable PPA Market...