The Regulatory Authorities (RAs) have independent duties and functions pertaining to the promotion and development of effective electricity retail competition in their respective jurisdictions, ultimately to ensure that consumers benefit from the introduction of competition in the energy sector. Working to the common objectives of the 3rd Package, both RAs have undertaken, and continue to undertake, various activities and workstreams to increase the level of effective retail competition in their respective jurisdictions.
The regulation of the retail electricity markets is not a joint regulatory activity, and does not have an explicit legal basis. However, the RAs have applied a co-ordinated approach to the regulation of the retail markets and have worked together to co-ordinate on relevant projects. The co-ordination of the retail market systems has been the most ambitious of such projects to date. The project worked in parallel with the existing retail market governance structures that were in place in each jurisdiction.
In order to implement the co-ordinated retail market schema, a new common ROI & NI governance structure was established to deliver the project. The diagram above illustrates the chain of responsibility for the governance of all matters pertaining to schema co-ordination across the two retail markets. The project governance structure has been largely maintained to serve as the enduring structure for overseeing the regulation of the co-ordinated retail electricity markets.