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We are one (leccy market from today)!

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  • 01-11-2007 2:53pm
    #1
    mike65
    Closed Accounts Posts: 88,978 ✭✭✭✭


    Today seees the introduction of an all-ireland single electricity market, it remains to be seen if the promised savings actually happpen but I'm sure we are hopeful.

    from rte
    The Republic's system operator Eirgrid and its Northern counterpart SONI will be responsible for operating the market.

    Electricity will now be bought and sold through a pool system, in which electricity generators will compete to provide power on the basis of bids submitted to the operator every half-hour.

    ESB welcomed the new market, saying it would benefit customers and attract investment to the sector.

    'We are going to see downward pressure on prices,' said chief executive Padraig McManus.

    It is estimated that the creation of the new single market will result in net social social benefits of €155m over a ten year period, with €127m of those gains going to consumers.

    Mike.


Comments

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    #2
    nordydan
    Registered Users Posts: 1,104 ✭✭✭nordydan


    A Nation Once Again. Wayhay!!!!!


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    #3
    Carawaystick
    Registered Users Posts: 8,779 ✭✭✭Carawaystick


    Is the market open to normal people like me?
    how much is a kW hr up in Down Dan?


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    #4
    nordydan
    Registered Users Posts: 1,104 ✭✭✭nordydan


    Carawaystick wrote: »
    Is the market open to normal people like me?
    how much is a kW hr up in Down Dan?

    Not sure, I live in Ranelagh. I will check next time I am up, or you could ring NIE.


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    #5
    Red Alert
    Hosted Moderators Posts: 7,484 ✭✭✭Red Alert


    Hasn't the regulator also however prevented prices going down, and aren't they banning the ESB from replacing some of it's environmentally unfriendly stations with new CCGT technology to appease the privates?


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