Proposed incentives designed to support the development of the wind farms needed to meet the Republic’s renewable energy targets will cost €300 million, according to the State’s utility regulator.
The Republic has agreed with the EU that 40 per cent of its electricity will be generated from renewable sources by 2020.
The commitment will require the construction of more wind farms and specialised gas-fired power plants that can be called on to plug the gap when wind generators cannot be used.
National grid operator Eirgrid recently finalised proposals that included payments and incentives that the agency believes such specialised power plants will need to operate and deliver a return to their investors.
The Commission for Energy Regulation (CER) confirmed this week that the package as it stands will cost an extra €300 million, which would ultimately be passed on to consumers and businesses if the proposals were implemented. Source: The Irish Times