Oireachtas Joint and Select Committees

Tuesday, 22 October 2019

Joint Oireachtas Committee on Agriculture, Food and the Marine

Harnessing Ireland's Ocean Wealth: Marine Co-ordination Group

Mr. Martin Finucane:

It is certainly one of the options that the company is probably looking at but I think it is a commercial decision for the company, to a certain extent, because of the way the electricity market operates. Competitive bids have to be made to an annual auction system that is run by the regulator so, basically, every year the regulator now holds an auction towards the end of the year signalling the type and amount of electricity generation that it would require to be built about four years hence. Any proposals by the company to develop at the Moneypoint site would have to go through that auction process in what is an open market.

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