The review of the security of energy supply of Ireland’s electricity and gas systems is focused on the period to 2030, but in the context of a sustainable transition to net zero emissions by 2050. It considers potential risks to both our natural gas and electricity supplies and examines a range of measures to mitigate these risks, including the need for additional capacity to import energy, to reduce energy use, energy storage, fuel diversification and renewable gases (such as biomethane and hydrogen).
As part of our review my Department carried out a consultation seeking views from interested parties on policy measures that could be implemented to support Ireland’s security of supply framework. The consultation closed on Friday 28 October and over 400 responses have been received. The completion of the review is a key priority. I will bring my security of energy supply recommendations to Government once the review process has been completed.
The Programme for Government contains a commitment to end the issuing of new licences for the exploration and extraction of gas on the same basis as the decision taken in 2019 by the previous Government in relation to oil exploration and extraction. This commitment was made effective immediately upon the current Government taking office, and was placed on a statutory footing on commencement of the Climate Action and Low Carbon Development (Amendment) Act 2021.
Holders of existing authorisations are not affected by these changes, and may apply to progress their authorisations through the licensing stages towards a natural conclusion – which may include expiry, relinquishment or production. This means that a future commercial discovery in an existing authorisation could potentially reach production. Any applications for follow-on authorisations or applications to conduct petroleum activities in the Irish offshore under an authorisation require Ministerial consent, and are required to meet environmental, technical and financial standards as appropriate.
