Will Irish households benefit from falling wholesale prices?

Will Irish households benefit from falling wholesale prices? Wholesale prices across the Single Electricity Market (SEM) fell to record lows in April. Joe Camish Analyst at Cornwall Insight Ireland discusses these developments and what this might mean for electricity users across Ireland.   The most prominent of these were the movements in the day-ahead power…
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20% drop in weekday Irish electricity demand

20% drop in weekday Irish electricity demand due to COVID-1: With a large proportion of specific sectors throughout Ireland having either closed or scaled back their operations due to COVID-19; a significant drop in Ireland’s electricity demand on weekdays has been observed.   In fact, research from Cornwall Insight Ireland, comparing the first week in…
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Negative wholesale prices in the SEM

Negative wholesale prices in the SEM –  comments by Cornwall Insight Ireland : On 5 April, the Irish Single Electricity Market (SEM) experienced a negative day-ahead trading price for almost the whole day.   The below graph shows the day-ahead market starting at -€6.0/MWh, before falling as low as -€14.5/MWh at 2:00 pm. Overall, the…
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COVID-19 impacts: decrease in Irish energy demand

COVID-19 impacts: decrease in Irish energy demand: Research from Cornwall Insight Ireland highlights that since Ireland went into lockdown on 16th March energy demand in the Single Electricity Market (SEM) averaged 6% down since the start of the month. This drop in demand is shown in the below graphs. Ruth Young Training Consultant at Cornwall…
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Irish electric vehicles sales lag behind 2030 target levels

Irish electric vehicles sales lag behind 2030 target levels: Research into Irish electric vehicle (EV) uptake by Cornwall Insight Ireland shows that EV sales are up 53% year-to-date. However, this still lags behind the Irish government’s Climate Action Plan 2019. The plan set a target to have 950,000 EVs on the road by 2030. The…
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Lack of headroom in RESS will see projects jostle for limited capacity

Lack of headroom in RESS will see projects jostle for limited capacity: The upcoming Renewable Energy Support Scheme (RESS) has caused excitement across the industry and with between 1000GWh – 3000GWh available, the competition could be high. A key feature of the design for the RESS auctions is the carve-outs or “preference category” for several…
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Analysing wind forecasting in the Irish energy market

Analysing wind forecasting in the Irish energy market: It is expected that Ireland will see greater penetration of wind generation in the next 20 years. According to the Tomorrow Energy Scenarios (TES) installed capacity forecast, Ireland will have between 6GW to 8.2GW by 2040. With wind generation growth set to continue, forecasting wind accurately will…
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SEM one year on – analysing market volatility since go-live

SEM one year on: The beginning of October marked the first anniversary of the new Irish and Northern Irish Single Electricity Market (SEM).  Already there is a marked change from its predecessor with the day-ahead electricity market in the SEM seeing significant volatility during its first year. In fact, findings from Cornwall Insight Ireland show…
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Slow and steady wins the CPPA race in Ireland

The irish government as a viable route to help achieve its 2030 renewable energy targets is targeting the Corporate Purchase Power Agreement (CPPA) market in Ireland. The Irish government has set out a goal of 15% of renewable electricity directly contracted to corporates by 2030. The latest insight paper from Cornwall Insight Ireland – The…
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Cornwall Insight Ireland comments on the half-yearly Irish EV sales

Irish EV sales: Although the Irish passenger car market is down 7.36% on 2018 for the year-to-date (YTD), the sales for alternatively fuelled (BEV, PHEV and hybrid-electric) passenger cars have shown steady growth. 9,582 alternatively fuelled vehicles have been sold for the YTD, a 69% increase on 2018’s total. The below graph compares monthly alternative…
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