SEM Electricity Price Forecasting for Ireland & NI

Ireland - SEM Market

Science-based forecasts for a sustainable energy transition

The Ireland Electricity Market operates under the model of the Single Electricity Market (SEM), an integrated wholesale market covering the Republic of Ireland and Northern Ireland. This joint market, one of the few examples of cross-border integration at European level, is managed by SEMO (Single Electricity Market Operator), a joint venture between EirGrid (Ireland) and SONI (Northern Ireland). The SEM began operating in 2007.

In recent years, the Irish electricity system has moved towards greater penetration of renewable energy, especially wind, which already represents a significant part of the energy mix. generation.

In the coming years, the SEM electricity market faces key transformations on its path towards decarbonization:

The Republic of Ireland has set a target of achieving 80% renewable generation in its electricity system by 2030, driven mainly by onshore wind and marine, as well as for the development of solar and energy storage.
Northern Ireland has also set ambitious decarbonisation targets, including a significant increase in renewable generation and the phase-out of fossil fuels.
The isolated nature of the island's electrical system imposes greater demands in terms of flexibility, stability and balancing services, driving the adoption of new technologies.
The SEM has capacity markets and auxiliary services designed to guarantee the reliability of supply and facilitate the integration of variable renewables.
The construction of new interconnections, such as the Celtic Interconnector with France, will reinforce security of supply and greater integration with the European electricity market.

At AleaSoft we have been offering services for 27 European electricity markets, including the SEM, for years. We provide price, demand and renewable production forecasts, adapted to the needs of generators, marketers, investors, system operators and regulators.