Eamon Ryan (Dublin South, Green Party)

The second reason related to very poor performance by a number of ESB plants during peak periods. We have, therefore, an urgent need to keep electricity prices here low. By investing in renewable sources of energy, we can do so. The fuel price is free. As already stated, renewable energy often provides a good hedge against varying gas prices and brings the overall cost of electricity down. It also subvents the public service obligation to support peat power plants. It is open to us to develop a renewable energy industry that will bring about price competitiveness rather than increased costs.

We must, however, consider the long-term position. We are approaching a peak in global oil production and we are also at the end of the gas supply lines. If we continue to rely on fossil fuels for 90% of our needs, we will be placed in an increasingly poor competitive position. It makes economic sense to switch to renewable sources of energy because they are cheaper and represent a direct return for the people.

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