Bord Gais Energy is one of Ireland's largest utilities.
Further information on our projects is available below.
The Integrated Single Electricity Market (I-SEM) is a new wholesale electricity market arrangement for Ireland and Northern Ireland that began on October 2018, and includes new wholesale trading arrangements, a reformed mechanism for compensating generation capacity, and new clearing and settlement facilities. The new trading arrangements include four new auctions and an online platform for the trading of day-ahead and intraday physical electricity, compulsory participation for dispatchable generators in a 24-hour balancing market, and a generation capacity remuneration scheme featuring a capacity obligation linked to the settlement prices for electricity.
Beginning in the autumn of 2015, ESP Consulting supported Bord Gais Energy (BGE), a vertically-integrated Irish utility, with a substantive piece of work to prepare their business to successfully enter the I-SEM market. Our work on BGE’s I-SEM Readiness Programme is as follows:
I-SEM Programme Support:
I-SEM Solution Implementation:
In early 2015, ESP Consulting conducted a review of the Trading and Risk Management activities of Bord Gais Energy (BGE), a vertically-integrated power and gas utility in Ireland, in order to assess the readiness of their electricity business to participate in the new I-SEM wholesale power market.
The scope of ESP Consulting’s review included:
The review included an assessment of the actual capabilities and a gap analysis to identify the new or upgraded capabilities required for BGE to participate in the new market. This study culminated in the development of the initial plans and budgets for what became BGE’s I-SEM Readiness Programme.
In addition to our work on the I-SEM Readiness Programme, ESP Consulting has supported BGE to improve their systems processes across their whole business, especially in the areas of finance reporting and customer pricing.
Support to Finance:ESP Consulting supported BGE’s Finance Department to streamline and rationalise financial reporting. The month-end financial reporting processes depended on a large number of manual steps to prepare and transmit financial data (such as copy/paste between spreadsheets, emailing attachments, etc.). ESP Consulting developed tooling and reporting templates to streamline the business process and rationalise the underlying data. This resulted in a substantial increase in both the efficiency of the financial reporting process and the timeliness of the reports.
ESP Consulting has also supported BGE in improving business processes relating to the pricing of customer offers and the management of data relating to the sourcing of energy for consumers. These daily or monthly activities were manual processes dependent on large amounts of data in spreadsheets, with consequent operational risk. ESP Consulting:
ESP Consulting additionally provided expert support to review the internal price curves used by BGE for the pricing of customer offers. ESP Consulting both recommended a change to methodology for the construction of the power curve, and developed tools to implement a simplified daily process for the update of the power and gas curves.