Written answer
Electricity Transmission Network
Government is backing EirGrid’s planning with up to €18.9 billion in PR6 grid investment, €3.5 billion equity, and annual renewable auctions as supply security improves.
40. Deputy Naoise Ó Cearúil asked the Minister for Climate, Energy and the Environment the measures being taken to ensure that investment in electricity generation and grid infrastructure keeps pace with growing demand from households, businesses and large energy users. [65913/26]
Comment on this
EirGrid has statutory responsibility for planning, developing and operating the transmission system. EirGrid’s planning is supported by its Tomorrow’s Energy Scenarios process which considers a range of potential future demand and generation pathways, and by its statutory Network Development Plan. EirGrid will update its scenarios and network plans as Government policy, forecast demand, generation development and other relevant assumptions evolve. EirGrid’s Future Network Vision is an initial, scenario-based assessment of longer-term transmission needs, intended to inform that ongoing planning work.
Investment in the grid by EirGrid and ESBN is overseen by and agreed with the Commission for Regulation of Utilities (CRU) in 5-year cycles called Price Reviews. Last year’s Price Review 6 (PR6) decision set out the largest ever electricity grid investment programme of up to €18.9 billion. This landmark investment will upgrade and reinforce Ireland’s existing grid and deliver critical new infrastructure to meet future demand. Government is supporting PR6 with an unprecedented €3.5 billion equity investment in ESB and EirGrid.
I expect similar levels of investment in grid infrastructure will be needed in the 2030s. My officials are working to ensure the electricity network companies are structured and funded appropriately to support this.
EirGrid publishes an annual All-Island Resource Adequacy Assessment which forecasts supply and demand on the all-island electricity grid over the next ten years. The forecast shows that Ireland’s electricity security of supply is improving year-on-year.
The Renewable Electricity Support Scheme (RESS) is Ireland’s flagship support scheme for grid-scale renewable electricity generators. RESS auctions will take place annually. This will provide a consistent pathway for the continued deployment of new renewable electricity projects. RESS 6 is due for completion in November and is expected to see strong competition.