Oireachtas Joint and Select Committees
Tuesday, 23 January 2024
Joint Oireachtas Committee on Climate Action
Large Energy Users Rebalancing Subvention: Discussion
Mr. Nicholas Tarrant:
The first year it was converted back to percentage. The second year of implementation the error in the calculation was just below €2 million in total quantum. As you went on over the 11 years it grew to the region of between €16 million and €18 million towards the end because of those variables changing. When those changes were made initially, it was not detected that this would change over time, or it was not realised. That is what happened.
I turn to the question about the mix of LEUs. As the amount grew as the years went on in the implementation, I think approximately 70% of the overall €100.86 million is from 2017 onwards if you look at the data. There is a difference in the customer mix between 2011 and today. The majority of the error grew towards the end.