Ossian Smyth (Dún Laoghaire, Green Party) | Oireachtas source

My Department is currently finalising the energy security package which will address the energy security challenges facing Ireland. This package is focused on the period to 2030, but in the broader context of transitioning Ireland to net-zero emissions by 2050. The Government’s policy objectives are to ensure energy is affordable, sustainable and secure, as well as in line with Ireland’s climate targets and statutory carbon budgets. Underpinned by these objectives, the energy security of supply review considered the risks to both natural gas, electricity and oil supplies, and a range of mitigation measures, including the need for additional capacity of indigenous renewable energy but also energy imports, energy storage, fuel diversification, demand-side response and renewable gases such as hydrogen. The governance structures supporting the energy system, including oversight and accountability reforms, were also considered.

Six key pillars of analysis underpinned the overall response and recommendations and these will be presented in the forthcoming energy security package. These include the review of the security of energy supply of Ireland’s electricity and natural gas networks; the studies by Cambridge Economic Policy Associates, CEPA, to support this; and the 450+ consultation responses to this analysis; the independent review of the security of electricity supply, which is the McCarthy report; the conclusions of the national energy security framework, NESF; the Government-hosted summit on energy independence in July 2023; the climate action plan, CAP; and ongoing policy analysis on oil security of supply. I have continued to engage with my Department officials over the summer to finalise the package and I have committed to bringing my energy security recommendations to Government for consideration in the coming weeks.

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