Simon Coveney (Cork South Central, Fine Gael)

I thank the Minister for the clarification. Does the Minister mean there is no cost saving to building a 1,000 MW interconnector at that stage as opposed to a 500 MW? Will it be as cost effective to upgrade in the future? Is this cost being factored in by the Minister?

The point made by the Minister is also the point I wish to make. We are endeavouring to introduce competition into the Irish market by connecting to the British grid. Is it not the case that electricity in Britain has consistently been 15% and 20% cheaper than in Ireland over the past five years for households and businesses? The purpose of the interconnector is not just to provide more capacity and security and perhaps the opportunity to export green energy, but it is primarily about piping in competition into the Irish electricity market place and to allow businesses and households have cheaper bills.

See this speech in context