Mr. Peter O'Shea:

Moneypoint is a complex question. The context is clear. Moneypoint will transition away from coal by 2025. That is policy, and that is what we are working towards. It is complex because Moneypoint is the largest store of energy on this island. The site can hold three months of energy on the island and it is, by a long way, the largest store of energy. If there is a disruption in gas or anything like that, Moneypoint would be hugely valuable. We need to factor that into our thinking in terms of the exact timing of it coming off the system. It also is capable of providing 20% of our total amount. More importantly, as a synchronous plants on the system, a plant which is synchronised with the frequency of the transmission system, it is very important in terms of acting as a counterbalance for the amount of intermittent power on the system. One cannot run the system 100% on wind. One needs some inertia on the system from big power plants. That is the technology as it exists right now. That might change in years to come. It is a complex question as to when it comes off and how to choose the best time for it to come off. The context of it is 2025 when it transitions away from coal.

There are options like maintaining a coal capability in the event that it might be needed but not plan to run it. That is not a great option but it is an option nonetheless. Could gas be put into the plant and replace it with gas plants? What about a biomass plant? The biggest coal plant in Great Britain, Drax power station, has converted to biomass. There are many issues with that. Could wind be put, either onshore or offshore, on the site? The ESB is working through all those options now and talking to people down at the site. It is not an easy question to address.

We are entering a new market structure on 1 October. The Integrated Single Electricity Market, ISEM, goes live between Ireland and Great Britain from 1 October. The first question we must ask of the old market participants, and not just the ESB, is what is the need for a new plant in that market? Is there a need for a new plant and what does one do with Moneypoint in that context?

Those are the things that the ESB is considering right now. It is not a simple question, but we have a period now to make sure we get it right because it is of huge importance to Ireland as well as the ESB.