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2 November 2007 - A new electricity market for the island of Ireland has finally become a reality.

After years of planning the Single Electricity Market [SEM] became a reality and involved the combination of the two separate wholesale markets North and South into one cross-border market. The new single market is the first cross-border market of its kind in Europe and the regulatory authorities said it was both more efficient and cost-effective.

Integration of the two markets will improve security of electricity supply and competition in providing supply "an improved price outlook than would otherwise be possible" according to the regulators, North and South.

All electricity produced on the island will now be sold into one large 'pool' and supply companies then buy their power out of the pool.

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