Our natural resources can power recovery
The current system is ludicrous and costly, but some tweaks could turn it around, writes Eddie Hobbs
Irish electricity prices remain at least 25 per cent overpriced due to the way the market is managed by the Government-appointed regulator, CER.
The Greens' largest legacy is a hidden 'tax' that's adding well over €1bn to the economy -- that's money from you and me that's passed to market participants to encourage the daft policy of putting intermittent wind energy directly into the grid anywhere and everywhere, without first smoothing it out.
But, here's the thing -- it could be all be changed in a flash, saving consumers and businesses up to €1.5bn a year in unnecessary costs and launching a massive new plank in Ireland's economic revival -- stable natural energy. Ireland is sitting on billions of value per year in terms of huge natural energy resources. Yet, we've done almost nothing with it.