Ireland to tap into EU energy
IRELAND has won agreement from the EU for funding to assist energy infrastructure building. The move will link the country to the rest of Europe for both gas and electricity supplies.
The plan anticipates a network of alternative pipelines delivering oil and gas from a variety of sources across Europe to avoid any supplier being able to turn off the energy tap in future.
Households across Europe could save as much as €1,000 a year if the next phase is completed.
Ireland and the rest of the 27 member states in Europe gain private investment to build energy infrastructure at an estimated cost of €1trillion over the next decade.
Ireland will ultimately be linked to electricity grids in Europe through the North Sea offshore grid; and for gas through the North-South gas corridor in western Europe.
The result will be a single EU energy market where consumers should be able to choose to buy their electricity and gas from companies other than those based in their own countries.