Ms Jill Murray:

From our point of view, in terms of investment in renewable energy, what we want to know is where we are going. This Bill will be helpful in that it will provide a co-ordinated approach, which means each sector will know where it is going, at least for the duration of the roadmaps, be they five or seven years. A positive development for us in terms of renewable development is that the Department has stuck to its guns. Europe has set a target and Irish policy makers have developed the policy to achieve those targets and have stuck to them. In other countries, Governments have pulled back and changed their targets, which kills investment. It gives investors comfort that the Irish Government is pro-investment in renewables and renewable policy.

The uncertainty at the moment is around where we are going next and what happens post-2020. By providing a framework whereby we are planning in advance on a five or seven years basis, we will know well enough in advance where the Government is going and what policy will be. This provides for certainty and stability to investors and reduces the costs of investment. One of the key questions we are asked by financiers these days is what is Ireland's policy on renewables. We have been able to show that Irish Government policy has been stable, which has proven very helpful for us.

In terms of the Bill, we believe it will provide the framework to give us the certainty so that we can invest and that this, in turn, should reduce the cost of those investments.