Maire Devine (Sinn Fein) | Oireachtas source

I move amendment No. 16:

In page 19, between lines 4 and 5, to insert the following:

“Amendment of Schedule 1A to Electricity Regulation Act 1999

10. Schedule 1A to the Electricity Regulation Act 1999 is amended by the insertion of the following new paragraph after paragraph 17:“18. The SEM Committee will be cognisant of ensuring regulatory alignment to protect the single electricity market and will report to the Minister on actions taken with relevant bodies in other jurisdictions and aim to maintain the single electricity market.”.”.

The amendment relates to the single electricity market, which is the only truly all-island thing mentioned in the Bill. The single electricity market, under the amended Electricity Regulation Act 1999, has demonstrated the direct benefits of an all-island economy., which is why it must be maintained post Brexit if we are to continue to benefit householders, businesses and the environment, North and South. I thank Deputy Stanley and, in particular, Martina Anderson MEP, who have done much work on the matter. As we are aware, Martina Anderson, who has been an MEP since 2012, will more than likely no longer be because, unfortunately, the two seats in the North will be retained in the so-called Twenty-six Counties, that is, the South, even though legal advice has shown that it would be possible and better if they were to remain in the Six Counties to allow the people of those areas be represented, but sin scéal eile.

The amendment seeks to amend the Electricity Regulation Act 1999. The all-island body, which has representatives from the regulator in Belfast and the regulator in Dublin, oversees the functioning of an all-island electricity market, which has been in place for more than a decade. The amendment will provide that, in the event of a hard Brexit, the single electricity market committee, whose members are appointed by the Minister, will address new regulatory circumstances, and that the committee will attempt to ensure regulatory alignment on the island. The new market rules for the single electricity market were launched last year and it has been reported that they could cut energy bills for businesses and householders by up to €200 million per year. The amendment is important in ensuring that we will retain the single electricity market and all the benefits it has brought to the people north, south, east and west.