Rise in electricity costs amid move from fossil fuels, report suggests
Ireland faces the threat of higher electricity prices as it transitions away from fossil fuels to renewables, a new report by the National Economic and Social Council has found.
The reports also warns the reliability of the energy supplies “may worsen” as Ireland moves to cleaner power generation if issues are not addressed.
The State currently has the highest electricity prices in the EU, according to the study.
It says a lack of action on transition to clean energy will add to costs for Ireland.
The report says: “There is a lack of evidence-based certainty about future energy prices in Ireland and, if anything, consumers might expect higher rather than lower energy costs as the transition progresses.
“This is despite the cost of renewable power production being competitive with that of fossil fuels over the long term.”
The report says that much of Ireland’s energy policy is headed “into fog”.
It adds that the key players in the industry are not “on the same page”.
The study also calls for a series of actions to be taken now to reinforce Ireland’s energy transition and economic resilience.
The report says there is no single, comprehensive estimate of the sales, energy exports and jobs that can be expected from delivering energy transition targets.
Dr Cathal FitzGerald, Senior Analyst at the National Economic and Social Council said: “Right now, we need to improve the conditions for clean energy infrastructure delivery- the planning and consents, the grid, skills, finance, and ports, shipping, and supply chains. A new institutional framework can help make this happen and provide strategic direction.”
Article Source – Rise in electricity costs amid move from fossil fuels, report suggests – RTE
