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Ireland
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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...
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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...
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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...
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Press Releases
Cornwall Insight Ireland’s analysis of the high pricing in the Balancing Market
On 24th January the balancing market recorded the highest price since ISEM went live, at €3774/MWh, this was more than double the previous high the market had recorded. This resulted from SONI (System Operator in Northern Ireland) issuing an amber alert due to generation losses in NI. The alert was...
