Oireachtas Joint and Select Committees

Wednesday, 15 June 2022

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Offshore Renewable Industry Forum and Ireland’s Offshore Wind Industry: Discussion

Photo of David StantonDavid Stanton (Cork East, Fine Gael) | Oireachtas source

My second question relates to the Revolution report, which was published in July 2021, before the terrible war in Ukraine. We have seen reports across the board about how costs have gone up dramatically. There are supply cost issues, supply chain issues and so forth. The costs of the material have gone up. Mariupol had the biggest steel plant in Europe. That is kaput now; it is not producing anymore. What impact will that have on the witnesses’ levelised cost of electricity projections that they cite in the Revolution report? They talk about the flow costs per megawatt in 2021 being €135 and how they will go down to €40 in 2050. Do they think that when the war finishes, the costs will level off again? Can they talk about the costs, in the context of the impact that the changed world will have on them, since the Revolution report was actually commissioned?

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