Oireachtas Joint and Select Committees

Tuesday, 30 August 2022

Joint Oireachtas Committee on Climate Action

Energy Supply and Security: Discussion

Photo of John McGahonJohn McGahon (Fine Gael) | Oireachtas source

I am not sure if Mr. Gannon read an article in the Business Post on 21 August. It raised concerns about the cost of inflation and stated it may scupper some of the projects in T-3 and T-4. The article states that the soaring construction costs and rise in equipment prices of more than 25% in some of the power plants in T-3 and T-4 mean that those capacity auctions may not go ahead. Is the CRU doing anything to mitigate this?. This might lead on to the Department. I wish to ask the Minister whether the Department is doing anything to mitigate this. Would the Department or the CRU consider the possibility of introducing an capacity payment index linked with inflation as we have seen in the United Kingdom?

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