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REFIT
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Low carbon generation
PSO Levy 2022/23: RESS to the Rescue
This week we look at how renewable generation is putting money back in consumers’ pockets - a trend which, based on the power price forecast from our All-Island Forward Curve report, is expected to continue until 2027. Last week the Commission for Regulation of Utilities (CRU) published their final decision...
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Low carbon generation
RESS-won: renewables on the march
Yesterday will be remembered as 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. After years of waiting, the first Renewable Energy Support Scheme auction (RESS-1) results are here (provisionally, pending appeals)....
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Commercial and market outlook
Editor’s Pick Ireland | Taking advantage of the opportunities in RESS
The Renewable Energy Support Scheme (RESS) has been designed to replace the previous Renewable Energy Feed-in Tariff (REFIT) schemes that closed in December 2015. The RESS scheme is designed to help promote the generation of electricity from renewable sources and will ultimately help Ireland achieve some of its Climate Action...
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Commercial and market outlook
REFIT extension and avoiding EU fines
The Government is staring into a substantial headwind of between €98mn and €500mn in EU fines for missing 2020 energy targets. The Renewable Energy Support Scheme (RESS), the mechanism that was supposed to add further renewable capacity to the system to avoid those fines, has yet to get out of...
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Low carbon generation
Take the money and run: REFIT in I-SEM
With significant media coverage regarding our EU renewables targets (and the fact that we are missing them by a country mile), attention is drawn to how we reduce our dependence on fossils fuels in Ireland. The advent of I-SEM caused a certain amount of consternation in Ireland, as the primary...
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Low carbon generation
Relight my fire: liquidity in the Irish PPA market
Previously we explored how the Irish Power Purchase Agreement (PPA) market is evolving in response to the I-SEM. We have extensively researched this market to understand PPA pricing, competition and contract structuring. This culminated in the release of our inaugural Irish PPA market report in July. However, overall market share...
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Heat networks
Goodbye Yellow Brick Road: REFIT in I-SEM
Last week the Department of Communications, Climate Action & Environment (DCCAE) decided on the transition of REFIT to I-SEM. DCCAE confirmed that it will adopt a “Blended Approach” to the calculation of the Total Market Revenue (TMR), which is used to estimate the level of support provided under the scheme....
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Low carbon generation
Here be dragons: basis risk and REFIT projects in I-SEM
Last week on 14 March the Irish market saw another record for wind generation, with over 55% of the island of Ireland’s electricity generated from wind power for the full day. It is clear that the TSOs are becoming more comfortable with wind as it increases its market penetration, however,...
