Ms Marie Donnelly:

We had a conversation about the buildings and roads ETS at one of our most recent meetings. Part of the challenge we will have relates to the price of carbon in that system versus our carbon tax. In a projection to 2030, our carbon tax is scheduled to go to €100 per tonne. A sum of €45 per tonne is being spoken about in the context of the buildings and roads ETS. That would be a significant change coming down the line. Consider what has happened to the ETS price in the past four of five years. It has gone from €5, €6 and €7 per tonne up to stratospheric levels in that time. We must remember that the ETS is a market-driven mechanism. Governments do not control the market. While it does not apply on the construction side, the operation of the building, including heating, can be impacted. There is a concern that the markets could drive the price of carbon in that system to a very high figure. If people are still heating their homes with oil, for example, it could cost them a lot of money.