Price Spikes in Ireland Fuel Concerns Over Dispatachable Power Shortages in Europe

By [email protected] Irish grid-balancing prices soared to €3,774 ($4,284) per megawatt-hour last month amid growing concerns over dispatchable power capacity across Europe.

The price spike, triggered by an alert regarding generation losses, came only four months after Ireland and Northern Ireland launched an Integrated Single Electricity Market (ISEM) designed to make trading more competitive and improve power distribution across the island.

Evie Doherty, senior consultant for Ireland at Cornwall Insight, a U.K.-based energy consultancy, said significant price volatility was to be expected while ISEM is still settling down.

When the U.K. introduced a single market for Great Britain, called British Electricity Trading and Transmission Arrangements,

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