The national energy regulating agencies in Ireland and Northern Ireland wanted to create an environment that encouraged investment and competition and allowed new players to enter the market. They asked Pöyry Management Consulting to design a new electricity market, including determining trading rules and pricing, managing legal issues, and developing procedures, operations and data management solutions.
Working with industry leaders, regulators, and system operators, we designed a robust market system that handles 100% of the electricity trading in Ireland. Our consultative approach leveraged industry working groups to gain consensus and seek input from local experts. Five years later, Ireland has seen significant investment in electricity generation and healthy competition has allowed new players to enter the market.