The European Power Exchange EPEX SPOT and European Commodity Clearing (ECC) have been chosen by the Irish transmission system operators EirGrid and SONI as service providers for the new local power exchange SEMOpx which will operate the Day-Ahead and Intraday markets in Ireland and Northern Ireland respectively.
The product offering of SEMOpx will comprise a Day-Ahead auction coupled with the rest of Europe and continuous and auction intraday markets. In its capacity as a central counterparty, ECC will assume clearing and settlement for all transactions concluded on SEMOpx. The project partners envisage launching all markets by May 2018.
This Clearing Circular aims to provide preliminary information to the Clearing Community at an early stage. Follow-up information and namely the Go-live will be announced via a separate Clearing Circular.