Regulator’s price review likely to determine network charges
Infrastructure needed to ship electricity from offshore wind farms to customers will cost €5 billion, regulators say. Stock photograph: Getty
The Republic’s 2.2 million homes and businesses will ultimately cover the cost of this, either through standing charges or the public service obligation on their electricity bills. Standing charges amount to about one third of the €1,756 a year that the average Irish household pays for electricity, and they fund the national grid and network. The public service charge covers supports for renewable electricity.
Companies backed by European giants EDF, RWE and Statkraft, to which the State awarded contracts through the Renewable Energy Support Scheme a year ago, will build the pipelines and substations needed to bring electricity ashore from their wind farms. The company added that the CRU had yet to decide whether infrastructure off the south coast would be paid for though a network charge or through the public service levy.
Jim Gannon, CRU chairman, predicted that the review would be one of the most important in terms of switching to low-carbon electricity.
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