The regulatory framework for the Irish electricity market is mainly contained in the Electricity Regulation Act, 1999, as amended. This has been amended inter alia to reflect successive EU energy regulation legislative packages. In this regard, the EU Energy acquis, including the recently adopted Clean Energy Package, continues to shape the design, operation and regulation of the Irish electricity and gas wholesale and retail markets and the roles of the network operators and the independent regulator within the regulatory framework. The Clean Energy Package makes significant changes to the EU’s electricity regulatory policy and framework to facilitate the transition away from fossil fuels towards cleaner energy.
The Climate Action Plan sets a target of 70% for renewable electricity by 2030 to make Ireland a leader in responding to climate change. Implementation of the Climate Action Plan will be key to deliver this ambition. The Climate Action Plan notes that our 2030 decarbonisation ambition will require all sectors to step-up to achieve our EU targets. The Plan highlights the measures, actions, timelines and responsible organisations for delivery on these targets.
The Plan highlights actions to deliver on regulatory streamlining of renewables and grid development, provisions for offshore renewables, route to market for renewable electricity generation, microgeneration and carbon capture and storage and identifies the associated legislative and regulatory actions within the regulatory framework that may be required.