Post 2025 Market Design – Capacity mechanism - Initiation

Following National Cabinet's endorsement of the Energy Security Board's (ESB) final package of reforms, the ESB is carrying out further design work on the proposed capacity mechanism. This will include comprehensive consultation with all relevant stakeholders and interested parties, the outcomes of which will be used to help achieve the optimal design of the final model. The ESB has therefore released 2 papers:

1. A scope of works document to provide stakeholders with more clarity about the approach and process that we intend to use to progress the design of a capacity mechanism.
2. A project initiation paper, which outlines the main components of a capacity mechanism and the potential options, and gives stakeholders the opportunity to provide their views on these matters.

Submissions on the project initiation paper have now closed. 

Further detail of stakeholder engagement opportunities will be published in early 2022.

The key milestones for the capacity mechanism detailed design process are set out below: