Darragh O'Brien (Dublin Fingal East, Fianna Fail) | Oireachtas source

I thank Deputy Daly. Specifically with regard to the roll-out of renewable energy onto the grid, it is an absolute priority for the Government. We have very exacting targets. We also have a climate action plan. We are making progress on renewables. We have further renewable resources we can tap into. We have offshore renewables but I believe we have more capacity for onshore renewables. We have been successful, particularly with regard to onshore renewables.

The PSO levy charged to all electricity final customers in Ireland is a vital policy support for the development of the renewable energy sector in Ireland. It will help to enable us to reach our national and EU energy and climate targets. The PSO funds a number of Government schemes for renewable energy generation. Just over 4,000 MW of the approximately 7,000 MW of renewable generation in Ireland is supported by the PSO, which is significant. The annual renewable electricity support scheme, RESS, auction programme, which guarantees funding through the PSO, is a critical enabler of the investment needed to underpin the renewables-led energy system. Any consideration of future funding models will need to deliver reductions in electricity bills for households and businesses and ensure there continues to be a stable and sustainable investment framework so Ireland reaps the long-term benefits of its indigenous renewable resources.

Regarding the funding of the electricity grid, the Commission for Regulation of Utilities, CRU, is responsible for the regulation of ESB Networks and EirGrid, the electricity system operators. Expenditure by EirGrid and ESB Networks is agreed with CRU in five-year cycles. As Deputy Daly knows, these are referred to as the price reviews. Work has commenced on the latest price review 6, which will see CRU sanction investment in the grid between 2026 and 2030. It has seen ESB Networks request a baseline investment of €10.1 billion, with the potential to grow to €13.4 billion.

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