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Reported by Erova Energy on 1 October 2018

Erova signs first Balancing Agreement ahead of the new Irish Electricity Market

Erova, an independent energy trading and services company based in Dublin with offices in London and Amsterdam, announces it has contracted with Greencoat Renewables PLC to manage the balancing requirements for two wind farms (Knockacummer and Kill Hills) as required under the new Integrated Single Electricity Market (I-SEM).

(Courtesy of pixabay.com)

As of October 1st all generators within the Irish market are required to be “balance responsible” under the new I-SEM arrangements. Knockacummer and Kill Hills have contracted with Erova to manage this balancing requirement.

Erova provide generators with a range of trading services from traditional PPAs through to flexible Route to Market trading arrangements. With the Imbalance Agreement, Erova can provide trading solutions to generators who are already in a contractual relationship for REFIT payments without the need to terminate the current arrangements.

Michael Donnelly of Erova Energy said: “We are excited about our new contract offering to the Irish market and are delighted to have entered into an agreement with Greencoat Renewables PLC. Working closely with clients and banks Erova have been able to develop a bespoke solution to some of the unique challenges posed by the I-SEM.

References

[1]

Erova Energy Limited. Press release - Erova signs first Balancing Agreement ahead of the new Irish Electricity Market. URL: https://erovaenergy.com/News/erova-signs-first-balancing-agreement-ahead-of-the-.... [Date Accessed: 01/10/2018].