A full cost benefit analysis is on-going to determine if it is mutually beneficial for Ireland and the United Kingdom to enter an Inter-Governmental Agreement to facilitate trade in renewable energy. The amount of energy that might be procured by the UK and the mechanisms for sharing the resultant economic benefits, including an appropriate return to the Exchequer, are among the matters under consideration.
From an Irish perspective the potential benefits being examined include jobs created, community gain, interconnection benefits, corporation tax receipts and rates paid to local authorities.
The cost benefit analysis is being carried out by my Department with the assistance of New ERA, the ESRI and AECOM consultants.