EirGrid has confirmed that Aughinish Alumina has been suspended from the electricity market.
The Russian-owned refinery is a significant employer in North Kerry and West Limerick, located off the N69 close to Askeaton.
It processes bauxite, which is a sedimentary rock with a relatively high aluminium content.
Aughinish Alumina is Europe’s largest alumina refinery, and directly employs around 500 people in West Limerick and North Kerry.
EirGrid has confirmed that the company has been suspended from the ex-ante electricity market in line with a decision by European Commodity Clearing.
The Single Electricity Market ex-ante markets provide day-ahead and intraday markets for the buying and selling of wholesale electricity by generators, supply companies, and traders.
European Commodity Clearing provides for the financial clearing and settlement of these markets, with all market participants.
In a market message issued on Wednesday morning, the operator of the single electricity markets in Ireland, SEMOpx, said a suspension order was issued to Aughinish Alumina Ltd under the requirements of its rules.
Aughinish Alumina remains active in the capacity and balancing markets.
EirGrid has confirmed the company has not been taken offline, and remains connected to the transmission system.
EirGrid, the Department of Climate, Energy and the Environment, and the Commission for Regulation of Utilities are currently reviewing the implications of this development.
Accounts showed Aughinish Alumina, owned by Russian aluminium giant, Rusal, made a loss of over $377 million in the year before Russia’s invasion of Ukraine.
Following that invasion, sanctions were imposed on Russian metals entering the US and Europe, but Rusal said this would not affect Aughinish Alumina.
Earlier this year, Donald Trump signed proclamations imposing 25-percent tariffs on all steel and aluminium imports into the US.
