Ireland

  • Press Releases

    Increase in Irish exports raises long-term power price projections

    Cornwall Insight has raised its long-term predictions for power prices in Ireland as a projected rise in interconnector exports and reduced imports pushes up demand and costs. Ireland’s first 2023 - ‘All-Island Power Market Outlook to 2030’ – which looks at data modelled in the first quarter of the year,...

  • Press Releases

    Despite slow progress, Ireland has strong potential for developing a low carbon hydrogen economy

    Ireland is making strides towards a low carbon hydrogen economy, with the potential to climb up the ranks of Cornwall Insight's Hydrogen Index1. While currently holding the lowest ranking in the Index, Ireland has announced plans to publish a "policy and regulatory roadmap for green hydrogen use" in 2023. This,...

  • Press Releases

    Ireland leads Europe in growth of electric vehicles

    Ireland has seen the highest growth in the electric vehicle (EV) market share rising an impressive 81.3% from 2021- 2022. The data taken from the new Electric Vehicle Country Attractiveness (EVCA) Index, developed by Cornwall Insight and law firm Shoosmiths, identified the year-on-year growth of large European countries with Ireland,...

  • Press Releases

    Increase in renewables sees winter energy prices drop below historic average by 2027

    Data from Cornwall Insight Ireland’s third 2022 - ‘All-Island Power Market Outlook to 2030’ - has forecast Ireland is set to reach its 80% renewable target by 2030, with the increased energy security helping to stabilise the market and lower long-term energy prices. The report covering both Northern Ireland and...

  • Press Releases

    High profits for some renewable generators sees money returned to consumers   

    Domestic energy customers in Ireland are set to receive €89.10, as renewable energy generators payback money given to them under the renewables support scheme. Under what is known as the Public Service Obligation (PSO) levy, a charge is applied to all electricity consumers to cover the costs of renewable support...

  • Press Releases

    Battery storage to be a quarter of Ireland’s installed energy capacity by 2030

    Data from Cornwall Insight Ireland’s - ‘All-Island Power Market Outlook to 2030’ paper - has shown battery storage capacity will grow to become nearly a quarter (24%) of Ireland's installed energy capacity by 2030. The crucial technology will work to stabilise the network, as Ireland becomes more reliant on renewables...

  • Press Releases

    Summer energy prices in Ireland to remain above seasonal average until 2029

    Research from Cornwall Insight looking at the All-Island Power Market outlook to 2030, has shown that gas prices across both Northern Ireland and the Republic of Ireland will vary significantly between the seasons, with the summer months seeing much higher prices, despite the lower demand. Between 2022 and 2030 modelling...

  • Media Mentions

    Smart Energy International| The use of hydrogen for residential heating in Ireland

    Smart Energy International wrote about our report assessing the potential of hydrogen in decarbonising residential heating in Ireland. Deva Devaraj, Modelling Analyst at Cornwall Insight, explained that while the use of hydrogen can cut CO2 emissions, there were limits to its effectiveness A tonne of CO2 emissions can be avoided annually...

  • Press Releases

    Are hydrogen heating solutions an option for decarbonising residential heating in Ireland?

    Cornwall Insight have released a report assessing the potential of hydrogen in the challenging task of decarbonising residential heating in Ireland. The report found that lowering the CO2 emissions from residential heating would be a key component in Ireland achieving its ambitious vision to reach net zero by 2050. While...

  • Media Mentions

    Financial Times | National Grid issues

    Tom Edwards Senior Modelling Consultant at Cornwall Insight comments on National Grid's warning for the second time in three week's featured in the Financial Times. National Grid warned that supplies of electricity in Britain are going to be stretched as fewer-than-expected power generators will be available at peak times, while...

  • Press Releases

    Report commissioned by the NI government assesses the future of renewables in Northern Ireland

    A Cornwall Insight and Ionic Consulting report that was commissioned by The Department for the Economy NI was published by the department last week. The report – Future of Renewables in Northern Ireland – provided an assessment of the current state of renewables in Northern Ireland as well as modelling...

  • Press Releases

    Cornwall Insight comments on Ireland’s Renewable Electricity Support Scheme results

    Commenting on the Renewable Electricity Support Scheme (RESS) results announced yesterday Conall Bolger, Head of Energy Markets at Cornwall Insight, said:  “Yesterday was a good day for the Irish renewables industry; with the level of supported renewables capacity set to grow by over a quarter in the next 2-3 years....

  • Press Releases

    Irish energy demand increase as lockdown restrictions are lifted

    Research from Cornwall Insight Ireland highlights that as the COVID-19 restrictions are lifted across Ireland, energy demand in the Single Electricity Market (SEM) has increased. Weekday demand has risen by 3% (3GWh) on average, with current weekday demand levels averaging 94GWh since the lockdown restrictions started to ease on 18...

  • Press Releases

    20% drop in weekday Irish electricity demand due to COVID-19

    With a large proportion of specific sectors throughout Ireland having either closed or scaled back their operations due to COVID-19; a significant drop in Ireland’s electricity demand on weekdays has been observed. In fact, research from Cornwall Insight Ireland, comparing the first week in March with last week, shows that...

  • Press Releases

    Cornwall Insight Ireland comments on negative wholesale prices in the SEM

    On 5 April the Irish Single Electricity Market (SEM) experienced a negative day-ahead trading price for almost the whole day. The below graph shows the day-ahead market starting at -€6.0/MWh, before falling as low as -€14.5/MWh at 2:00 pm. Overall, the day saw 20 of the hourly settlement periods outturn...

  • Press Releases

    COVID-19 impacts: decrease in Irish energy demand

    Research from Cornwall Insight Ireland highlights that since Ireland went into lockdown on 16th March energy demand in the Single Electricity Market (SEM) averaged 6% down since the start of the month. This drop in demand is shown in the below graphs. Ruth Young Training Consultant at Cornwall Insight Ireland...

  • Press Releases

    Cornwall Insight Ireland comments on the RESS-1 Qualification Application Closing Date extension

    Commenting on yesterday’s announcement on the extension to the RESS-1 prequalification deadline, Ruth Young Training Consultant at Cornwall Insight Ireland, said: “Given the significant challenge that the ongoing COVID-19 crisis poses for RESS participants and EirGrid alike, it will have come as little surprise that the Minister has now agreed...

  • Press Releases

    Irish electric vehicles sales lag behind 2030 target levels

    Research into Irish electric vehicle (EV) uptake by Cornwall Insight Ireland shows that EV sales are up 53% year-to-date. However, this still lags behind the Irish government’s Climate Action Plan 2019. The plan set a target to have 950,000 EVs on the road by 2030. The below graph compares the...

  • Press Releases

    Lack of headroom in RESS will see projects jostle for limited capacity

    The upcoming Renewable Energy Support Scheme (RESS) has caused excitement across the industry and with between 1000GWh – 3000GWh available, the competition could be high. A key feature of the design for the RESS auctions is the carve-outs or “preference category” for several key areas: community projects, solar projects and...

  • Press Releases

    Analysing wind forecasting in the Irish energy market

    It is expected that Ireland will see greater penetration of wind generation in the next 20 years. According to the Tomorrow Energy Scenarios (TES) installed capacity forecast Ireland will have between 6GW to 8.2GW by 2040. With wind generation growth set to continue, forecasting wind accurately will become increasingly important....

  • Press Releases

    SEM one year on | Analysing market volatility since go-live

    The beginning of October marked the first anniversary of the new Irish and Northern Irish Single Electricity Market (SEM).  Already there is a marked change from its predecessor with the day-ahead electricity market in the SEM seeing significant volatility during its first year. In fact, findings from Cornwall Insight show...

  • Press Releases

    Renewable growth drives common goals for electricity networks across the globe

    Electricity networks globally are experiencing significant increases in the volume of renewable capacity as countries seek to decarbonise their power sectors without impacting the security of supply. The scale of this change is creating new challenges for power networks and those responsible for keeping the lights on. The latest insight...

  • Press Releases

    Slow and steady wins the CPPA race in Ireland

    The Corporate Power Purchase Agreement (CPPA) market in Ireland is being targeted by the government as a viable route to help achieve its 2030 renewable energy targets. The Irish government has set out a goal of 15% of renewable electricity directly contracted to corporates by 2030. The latest insight paper...

  • Press Releases

    Cornwall Insight Ireland comments on the half-yearly Irish EV sales

    Although the Irish passenger car market is down 7.36% on 2018 for the year-to-date (YTD), the sales for alternatively fuelled (BEV, PHEV and hybrid-electric) passenger cars have shown steady growth. A total of 9,582 alternatively fuelled vehicles have been sold for the YTD, a 69% increase on 2018’s total. The...

  • Press Releases

    Cornwall Insight Ireland comments on the proposed increase to Imperfections Charge

    A proposed increase to the Imperfections Charge* (and Incentive Outurn) has been discussed in a consultation paper that has been issued by the SEM Committee (SEMC). This was in response to the transmission system operator’s (TSO’s) submission – where they proposed an increase of 53% on the 2018-19 tariff year...

  • Press Releases

    Pricing and renewables: estimating the new Celtic Interconnector use

    Earlier this month Taoiseach Leo Varadkar and French President Emmanuel Macron signed a letter confirming plans to build a new 700MW Celtic Interconnector. With the looming context of Brexit, volatile energy prices and discussions about how to enable high volumes of renewables, Cornwall Insight Ireland has examined the likely flows...

  • Press Releases

    Peat offsets no-coal in Ireland’s drive for greener generation

    According to data supplied by ENTSO-E, Ireland saw a total of 30 days without coal-fired generation on the system. This will aid Ireland’s progress in meeting its green ambitions. However, the latest research from Cornwall Insight Ireland shows that the presence of peat on the system may have offset some...

  • Press Releases

    Shortfall in Ireland’s 70% renewable target

    The Irish government recently announced that Ireland’s ambitions for tackling climate change would no longer lag behind the rest of Europe, with their commitment to having 70% of all electricity generated coming from renewable sources by 2030. Research from Cornwall Insight Ireland shows that as things currently stand there is...

  • Press Releases

    Gas proxy still relevant in SEM

    Historically, gas prices in Great Britain have largely influenced hedging strategies in the Irish Single Electricity Market (SEM), acting as the proxy commodity of choice. A proxy hedge involves using one commodity in another market with prices that are closely correlated. GB gas prices are chosen due to its inherent...

  • Press Releases

    Avoiding EU fines with a REFIT extension

    The Irish government is facing substantial fines for missing 2020 energy targets. The Irish Wind Energy Association (IWEA) has put forward a proposal for avoiding this outcome an extension to the REFIT 2 scheme. The extension, it is argued, would allow the required number of projects from renewable sources to...