The Single Electricity Market (SEM) is the wholesale electricity market for the island of Ireland. It is regulated jointly by the Commission for Regulation of Utilities (CRU) and its counterpart in Belfast, the Utility Regulator. The SEM combined what were two separate jurisdictional electricity markets. The SEM became one of the first of its kind when it went live on 1st November 2007. The goal of the SEM to provide for the least cost source of electricity generation to meet customer demand at any one time across the island, while also maximising long-term sustainability and reliability.
The decision-making body which governs the market is the SEM Committee. It consists of the CRU, the Utility Regulator as well as an independent member (who also has a deputy). Each entity has one vote. The Electricity Regulation (Amendment) (Single Electricity Market) Act 2007 provides the framework for the operation of the market. Neither this Department nor the Minister has any function in the decision-making of this independent body.
Further information on the SEM.