Mr. Dara Lynott:

Briefly, as an electricity sector, we represent the value chain. The sector is fully committed to decarbonising by the mid-2040s at the latest. Our own vision is of a decarbonised future powered by electricity. We do not see a tension. In our own study on 2030, we found that Ireland is an island that does not have the benefits of other continental countries that can rely on other significant sources of hydro, biomass and nuclear energy. Therefore, it has to stand on its own two feet. According to our study, the holistic energy system in 2030 will be a mix of 70% renewables and 30% backup generation that will be used much less. Primarily, it will be a dual-fuel system of gas and renewables. That is heavily dependent on technology advances in storage, on infrastructure delivery in terms of our grid and interconnection and on behavioural change, if we are to have 1 million EVs and 750,000 retrofits done by 2030.

It is not an either-or situation. There is not a tension. Ireland is unique in terms of its island status. We rely heavily on the expertise and experience of EirGrid to chart a way forward, and also a market that supports the types of investments. If we have those technology-neutral type incentives, then naturally, old business models fall away and new technologies will take their place.

That is where they will follow the incentives put there by the market designer, the regulatory authority.