Date: Tuesday 25th of January 2022
Time: 10 AM – 12 PM
Venue: Online
Course Overview
A generator with a project under RESS (Renewable Energy Support Scheme) in Ireland is exposed to various risks over the lifetime of the plant. In this course we understand the various pre-bid risks, which risks can be managed by developers and which cannot, bidding behaviour caused by risks, possible mitigation methods that can be built into the RESS Terms and Conditions and the impact of risk mitigation on bid prices and burden on consumer’s costs through a cost benefit analysis.
Course Objectives and Learning Outcomes:
Objectives:
Understand the various pre-bid risks to a renewable developer under the current and draft T&C for RESS
Understand bidding behaviour when managing risks
Comparison with similar international schemes
Define the changes that need to be made to upcoming and future RESS T&C to mitigate these risks
Analyse the impact of these suggested changes on bid price and cost to consumer via a cost benefit analysis
Learning outcomes:
This course will help build understanding on the following:
Risks for new renewable generators
Measures which can help mitigate existing risks
Impact on consumers of mitigating risks
Who should attend:
Renewable developers or investors
Irish energy market participants
Academics
Course Content:
Agenda:
1. Introduction
a. About Cornwall Insight and presenters
b. Agenda
c. Objectives
2. Investing in wind in Ireland
a. RESS auctions
b. Economic theory of risk perception under the auction mechanism
3. Mapping risks under RESS
a. Risks under current T&Cs that cannot be managed by developers
b. Risks addressed in select EU countries
4. Further work
About the trainer:
Lisa Foley: Lisa, a principal consultant with Cornwall Insight, is an experienced electrical & electronic engineer working in the energy & power industries for over a decade with an emphasis on the smart use of our power system. She has expert knowledge of generation integration, DSF, Renewables, Storage, VPP, Smart Grids, Capacity Markets, Energy Markets, System Services, Energy Policy, Market/TSO/DSO & Regulatory Authority Engagement, Transmission & Distribution Power System Planning & Operation.
Ratnottama Sengupta: Ratnottama is a senior consultant with Cornwall Insight with 8 years of experience, primarily in renewable energy. An economist by training, she has worked primarily in areas of policy and regulations for renewable energy development, market entry strategy and building business models.
Niall Durham: Niall is a Senior consultant with Cornwall Insight with over 10 years’ experience in the Irish Energy and Environment sectors. He has significant experience working with Large Energy Users in Ireland and Great Britain to decarbonise their onsite energy usage through Distributed Energy projects. He has in-depth knowledge on both the design and participation in flexibility programmes such as DS3.
Cathal Ryan: Cathal is a consultant with Cornwall insight. He He has worked on market entry projects for entities looking to begin operating in the SEM, feasibility studies for flexible assets, been a part of the project team which did a review at NI Renewable Heat Incentive scheme. He specialises in policy analysis, regulatory compliance, and market entry guidance for the Irish market.
Andrew Oliver: Andrew is a senior modeller at Cornwall Insight with over 10 years of experience. He is a key resource in the modelling team at Cornwall Insight, which is dedicated to power market modelling. He is the current owner of the RESS bid price calculation model.
