Timmy Dooley (Clare, Fianna Fail) | Oireachtas source

Fianna Fáil supported this Bill from the start. I expressed certain concerns on Second Stage which I will address by way of amendment on Committee Stage and I still hold firm to those concerns. There are issues about whether we start by way of cliff edge or have some sunset to allow an appropriate transition, but those are matters which can be addressed on Committee Stage.

There has been good debate in the preparation of this report. There has also been some scaremongering from the industry about energy security. The reality is that, by 2025, the Corrib gas field will only be producing 20% of the gas the country will need. We will be importing gas if there are not further finds and in any event there is no guarantee we will find any more. To suggest that the passage of this Bill will threaten the security of our energy is well wide of the mark.

From a political point of view, we have to signal the direction in which we need to travel. That cannot be for consumers to decide. It is irrelevant to consumers how the electricity reaches them when they switch on a light switch or use electricity. That comes from the supply side. That is why I am convinced we need to condition the investment community away from exploration and, together with Government initiatives, tap the resource that we know is there. We do not know whether there is additional gas. There may be some small pockets thereof, but we do not know how beneficial that will be or how much is there. We know, however, that there is significant wind off the west coast. Conditions are trying and waters are deep, so current technologies have not reached the point that they can harness the energy in the way that we would want. However, we should signal to the investment community that it should support our long-term needs. The passage of this Bill, with significant amendments, would enhance that message.

I flag at this stage that, if we get this legislation to Committee Stage, I will be happy to work with Deputy Bríd Smith and others to bring forward significant amendments that will provide for a staging process. I do not believe the guillotine should be dropped on day one. This should be done over a period of time with a recognised sunset, aiming towards the ending of exploration and mapping a direction towards our climate change objectives. We recognise that we have made significant commitments on milestones for the reduction of emissions by 2050 and, in line with that, we need to transition away from fossil fuels to more renewable sources of energy.

The investment community always wants certainty and, by charting a timeline, we can give that certainty and show there is an alternative sector for investment in alternative energy. We want to pass this Bill from that perspective.