Ireland CRM research report – February 2021

We are pleased to present our new market update report: Ireland Capacity Remuneration Mechanism outlook 2021.

Our latest Ireland market update report explores the outcomes of the 2024/2025 T-4 auction, analysing the key results and assessing the future CRM outlook.

Key insights include:

  • On February 10th Eirgrid and SONI published the results of the 2024/25 T-4 CRM auction, which cleared at €47,820 /kW, the highest clearing price in the CRM to date
  • A total of 6.2 GW of capacity successfully cleared the auction, slightly lower than the previous T-4 auction which procured a total of 7.3 GW
  • Gas peakers and demand-side units dominated the successful new build capacity, with 274 MW and 153 MW respectively
  • Kilroot Energy Park, the coal-to-gas conversion project owned by EP Kilroot Ltd., cleared the auction with one of the four qualifying units, increasing the project’s total 10-year CRM contracted capacity to 557 MW
  • Market concentration continues to decrease as assets retire and new players enter the market, further boosting competition and pushing prices down in future auctions

 
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