Oireachtas Joint and Select Committees

Tuesday, 30 August 2022

Joint Oireachtas Committee on Climate Action

Energy Supply and Security: Discussion

Mr. Jim Gannon:

I am happy to respond to that question and I will also ask my colleague, Mr. Melvin, to refer to it. In terms of the increase in costs being experienced across the board, we have also seen a significant increase in the price that energy being generated by these plants would receive in the marketplace. There are a number of different contributory factors to this sort of business decision, including increased costs and potentially increased reward in the marketplace. The cost of finance changes over time. One single factor will not determine whether projects will go ahead. We continue to have regular update meetings with all of those in the T-3 and T-4 pipeline. We will continue to facilitate their progression as quickly as possible.

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