All-Ireland power market ‘by 2007’

LOWER electricity prices may be on the way in the medium term after energy regulators on both sides of the border yesterday agreed a July 2007 deadline for creating a single All-Ireland power market.

The move will benefit smaller power generators and is expected to allow for greater competition between the state-owned ESB and publicly-quoted Northern Ireland power generator Viridian.

Yesterday’s deal will mean the Dublin-based Commission for Energy Regulation (CER) and the Northern Ireland Authority for Energy Regulation (NIAER) will publish a timetable next month with details of the steps they will take to harmonise the two power markets on the island. The joint programme will also aim to co-ordinate planning of the separate power transmission networks and adopt a common stance on dealing with renewable energy.