Commodity Market Report

Ireland Energy Markets Service 2018: transition on its way

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11 June 2018

Ireland Energy Markets Service 2018: transition on its way

Report summary

Ireland, despite the start up of domestic gas production and some local peat production, remains a net energy importer. Therefore, to reduce its dependency on imports and to meet its emissions and renewables targets, the country is putting a strong emphasis on electrification and renewables' development, mainly wind. This will significantly alter Ireland's power generation mix, and will see it become an electricity exporter in the coming years. The coal phase out will be compensated by wind development, and gas' role will switch from base to peak load, to compensate for renewables' intermittency. We highlight and address major trends within the report, including: What will be the pace of renewables' development in the Republic? How will demand for hydrocarbons be altered by electrification? To what extent will the switch to power decrease the country's dependency on imports?

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