This morning in London, Ireland’s Energy Minister Pat Rabbitte, TD, and the UK’s Energy Minister Charles Hendry, MP, met to discuss the development of renewable energy trading between the two countries, as well as plans to enhance gas market planning procedures.
As a result of this morning’s meeting, the two ministers have agreed upon a process to develop a formal memorandum of understanding (MoU) on renewable energy trading between the two countries.
The two ministers will be aiming to finalise the MoU by the end of the year.
Ireland’s Department of Energy, Communications and Natural Resources confirmed that officials from both sides will now be examining the market, regulatory and technical issues necessary to underpin the development of cross-jurisdictional renewable trade.
The East West Interconnector, connecting Ireland and the UK, is set to be completed later this year. It will aim to facilitate new markets for energy companies in both Ireland and the UK to trade electricity.
Today, Rabbitte and Hendry also agreed to further develop the common gas emergency planning framework between the two countries.