The “Single European Act “
The “Single European Act “(EU,1988) is the foundation of the single European internal market for goods and services within the European Union (EU). The European Commission (EC) moved from the Single European Act and issued a document on “internal energy market” (EU,1988) as a legislative basis in the 1990s that concentrated on an integrated energy market that is competitive but also reduces the cost for the consumer.
Additional Electricity Directives aimed at lining up common set of rules which national governments had to transfer into their national legislation. The directives in 1996, 2003 and 2009 slowly but surely liberalised national electricity markets. The aim was to facilitate increased cross border trading through specific rules encouraging non-discriminatory access to interconnector capacity. With the introduction of the new legislation it reduced the entry barriers of these markets.
The EC had determined a list of key energy infrastructure projects, known as projects of common interest (PCIs). These infrastructure projects are important to help to achieve its energy policy objectives of a secure, affordable and sustainable energy market. For projects progressing at implementation and also draw interest from private investment, the PCIs should be able to have financial support from Connecting Europe Facility (CEF) and also the time to grant a permit needs to be significantly shortened.
To understand I-SEM better, the Irish SEM needs to be reviewed under the aspects of changes in the energy Market in Ireland as Ireland had two distinct electricity markets prior SEM.