Alan Dillon
Mayo · Fine Gael · Ireland
“Landlords are generally not in a position to supervise day-to-day waste management practices within occupied properties. The Government therefore has significant concerns regarding both the practicality and effectiveness of these provisions.”
“The Government has commissioned an independent study to examine the feasibility of moving Ireland's household waste collection system from the current side-by-side competition model to a franchise-based system. That study is examining the environmental, economic, operational and consumer implications of alternative market structures.”
“If the evidence supports significant changes to the market structure, the Government will consider those recommendations carefully. If the evidence suggests improvements can be achieved through strengthened regulation, enhanced enforcement or targeted reforms within the existing framework, those options should also be considered.”
“We also want to see a well-designed waste collection system that not only delivers environmental benefits but also provides householders with the opportunity to reduce their own household waste costs through reducing residual waste, correctly segregating recyclable materials and correctly segregating organic materials.”
“We have a lack of capacity so we need to continue that, and investment certainty is really important in that regard but also to enable Ireland to meet both our national and European obligations, which are far reaching. These will all benefit from a stable and predictable policy framework.”
“Ireland requires continued investment across the waste and resource sector. We need investment in collection infrastructure, recycling capacity, material recovery technologies, organic waste treatment, digital systems and innovation. Those making long-term investments require certainty regarding Government policy.”
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“Due to the success of the DRS, we now have a consistent supply of high-quality PET. This makes investment viable, and that is something we are working on into the future.”
“Re-Turn has done a tremendous job over the last 18 months since the deposit return scheme, DRS, was introduced. Re-Turn, and the composition of its company as part of the extended producer responsibility, EPR, in the delivery of the DRS, is not obliged under the company law Act to publish its salaries. In good faith, however, it does provide its annual report, as per our Department requirements, and we are very much working closely with it to try to ramp up the DRS. To date, it has been very successful. Over €2 billion euro in bottles and cans has been returned. The reality we face here in Ireland is that up to now, we have lacked a full bottle-to-bottle recycling facility and while some plants can produce polyethylene terephthalate, PET, flakes, specialist equipment for food grade recycling has not yet been available.”
“Under the single use plastic directive, PET plastic beverage bottles must include 25% recycled content from 2025, rising to 30% by 2030. This creates strong market demand for recycled PET and makes investment in Ireland's recycling infrastructure more attractive. Schemes like the deposit return scheme and Repak play a key role in meeting targets and supporting investment. Repak currently provides €100 per 10 tonnes of plastics recycled in Ireland and is working with industry to expand capacity. The forthcoming whole-of-government circular economy strategy will set ambitious targets to reduce resource use, increase reuse and drive innovation. My Department is working closely to create conditions for higher PET recycling rates through regulation, market incentives and investment in domestic capacity.”
“My Department is committed to increasing recycling rates, reducing plastic waste and supporting investment in domestic recycling capacity. In 2023, Ireland recycled 30% of plastic packaging, exceeding the EU target of 22.5%. However, stricter targets of 50% by 2025 and 55% by 2030 will be challenging. These figures cover all plastics, including PET. As EU exporting reporting does not isolate individual polymers, currently most PET collected is recycled abroad due to economic viability, but measures are underway to change that. The deposit return scheme introduced in 2024 was a game changer, creating a high quality separate PET stream for recycling. Over 2 billion bottles and cans have been returned and there is a 76% return rate, close to the EU target of 77% by 2025.”
“I again thank the Deputy for his response. We have already made changes to the uptake on solar PV installations. In May 2023, in order to bridge the affordability challenges we reduced the VAT rate to zero, which applies to new builds as well as existing homes. That was an important step forward. In doing so, we drove down the cost. As I said, retrofitting new homes on the basis that they will be eligible is not best practice for any builders, contractors or installers. The cost will be significantly greater. We will consider grant eligibility and that will be kept under review. At present, it is not intended to change the scheme. We have prioritised homes with the greatest need and over 90,000 homes have received grants extending to over €196 million.”
“I thank the Deputy and understand the merits of the question on affordability and the challenges people may encounter when building homes. However, the grant eligibility for solar PV is very much focused on older homes where the need is greatest. Many homes built since 2021 must comply, as I said in my earlier contribution, with Part L of the building regulations and require high energy performance. Many builders have included heat pumps or solar PV during construction. Indeed, it reduces the overall installation cost because if it is not included in a new build, the costs will be greater compared to retrofitting. We are very much focused on older buildings and, therefore, newer buildings already have a higher energy efficiency than others.”
“As we are making it easier and cheaper for households to install solar PV through grants, zero VAT and export payments, we will also ensure newer buildings meet high energy standards from day one.”
“New builds, therefore, already enjoy significantly higher energy efficiency compared to older homes. In addition, since May 2023 the VAT rate for solar PV installation in private dwellings was reduced to zero. This applies to new builds as well as existing homes. There are no plans to change the eligibility criteria at this stage but the scheme will be kept under review. Meanwhile, households can benefit from the clean export guarantee which pays for the excess electricity exported to the grid. The rate is currently between 15 cent and 25 cent per kilowatt, depending on suppliers. The Government is also investing record funding of over €550 million in budget 2026 to support energy upgrades, including solar PV and the national retrofit plan.”
“I thank the Deputy for his question. Our Department is very committed to helping households cut energy, reduce emissions and generate their own clean power. Grants of up to €1,800 are available through the SEAI for solar photovoltaic, PV, installations in homes built and occupied before 2021. Since 2022, over 90,000 homes have received grants totalling over €196.7 million, delivering 450 MW of installed capacity and saving over 93 kt of CO2. This high demand shows the scheme is working and the solar industry has scaled up to meet market needs. Homes built since 2021 must comply with Part 11 of the building regulations which set high energy performance standards. Builders can meet these requirements by installing heat pumps and-or solar PV during construction, which is typically cheaper than retrofitting.”
“In fairness, we need to be very careful of the language we use regarding the extensive investigation that was undertaken around the ongoing monitoring of the River Blackwater and other catchments. It is incumbent on us to ensure this is done through an evidence-based, fact-finding mission. We are reassured that no water quality issues have been detected. We have also ensured that the river remains safe for angling and recreation. We have also monitored the drinking water for the Mallow treatment plant. That has been confirmed as safe and, indeed, we are taking significant measures in how we can make our system stronger, faster and more resilient to protect fish stock and the habitat.”
“The Deputy can be assured that my Department and all of its officials working with IFI are very much focused on what the learnings will be and how we can implement them into any future responses.”
“I thank the Deputy for her focus and attention along with her colleagues on this matter. It is the responsibility of Inland Fisheries Ireland to continue to safeguard the fish stock and the habitat within the River Blackwater near Mallow. The Minister of State is extensively engaging on the management plan moving into the future regarding this significant incident. As the Deputy said, three key measures have been established: the joint emergency protocol, the independent review and we and the Minister of State are examining legislative amendments to strengthen IFI's enforcement powers and to ensure that we continue to work with other agencies regarding future and faster responses in the context of the significant incidents that occurred in Cork.”
“The Minister of State and the Department are satisfied that every avenue was investigated with over 40 site inspections, 900 chemical screens, pathology tests and extensive monitoring, sampling and surveys were carried out by the interagency group. The priority is now to apply lessons learned from this event, strengthen enforcement and build resilience to ensure that we are better prepared to prevent and respond to any such further incidents. On that note, IFI has commenced the process of formalising a joint protocol with other relevant State agencies to address significant future pollutant events that result in fish kill. This will ensure that a combined emergency response will be deployed as quickly as possible to mitigate the effects of significant pollution discharge that impacts fish and their habitats.”
“The investigation concluded in September by IFI on behalf of the interagency group set up to co-ordinate the investigation. The report is published on the IFI's website. The report provides a clear account of the State's response to and the investigation into the incident. The incident conclusively rules out systemic disease, water quality issues and licensed discharge. Evidence pointed to a short-lived waterborne irritant that dissipated before it could be traced as a source. While it is regrettable that no specific cause was found, I assure the House that this was not due to a lack of effort or action but because the event was transient.”
“I thank the Deputy for the question. The Government, my Department and the Minister of State, Deputy Dooley, are fully committed to protecting our rivers, safeguarding our fish stocks and supporting local communities and anglers. I fully recognise and acknowledge the seriousness of the fish kill on the River Blackwater near Mallow. This event has had a major impact on local community anglers and the wider catchment. From the outset, the Minister of State, Deputy Dooley, was in regular contact with Inland Fisheries Ireland, IFI, the Environmental Protection Agency, EPA, Cork County Council, local councillors and Oireachtas Members in the area. He has visited this site twice and established an interagency group to co-ordinate, investigate and respond.”
“Over 41,500 upgrades have been completed so far this year. We have been building momentum. I do not have the numbers on hand for traditional built housing, but I certainly can get that back to the Deputy. As I said earlier, we need more skills and contractors and better supply chain resilience. That is why we are very much focused on more SEAI staff for the warmer homes scheme, and indeed, more one-stop shop operators. It is at 26 already. To the Deputy's point, it needs to be ensured that all homes are included. To get that specific skill set and expertise is something we can go to back to SEAI on and revert to the Deputy on. We will get the figures to the Deputy around warmer home retrofits for traditional homes.”
“If there are examples that the Deputy wants to share with us, we certainly will work with SEAI and try to build them into a broader programme that meets the needs of everyone throughout the country.”
“I thank the Deputy for his question and for outlining the challenges faced by some homeowners. We are looking at continuing policy development in regard to the national retrofit plan. In recent years, significant changes have been introduced as part of the retrofitting scheme. One part of that was a new pilot to support the retrofitting of traditional built homes. I will work with the Deputy on the specific instance he has raised. We have also introduced two pilots aimed at informing approaches to increase the number of heat pumps installed. We know as demand increases a lot of the traditional built homes that may have conservation challenges will become a lot more expensive to retrofit. We are working at streamlining the processes.”
“We will continue to invest in skilled workers, more contractors and streamlined processes. We are also taking action including simplification of the application process. We are expanding the one-stop shop, which now comprises over 26 contractors, the home energy improvement loan, with rates of 2.99%, and building capacity, which must grow to meet current demand. Budget 2026 also provided €558 million, an 89% increase, that will be supplemented with ERDF funding. On the specific data in regard to ramping up delivery, we hope by 2030 that targets of over 500,000 B2 retrofits and over 400,000 heat pumps will be delivered.”
“Gabhaim buíochas leis an Teachta for his question. My Department funds a number of grant schemes administered by the SEAI for solar PV and heat pump installation as part of the national retrofit plan. To the end of September 2025, over 41,500 home energy upgrades had been completed with SEAI grant support. That compares with 38,000 in the same period in 2024, 34,000 in 2023, 16,062 in 2022, 9,938 in 2021 and 12,573 in 2020. That represents 10% growth on last year and 22% on 2023, showing strong momentum. I acknowledge that the approval and completion timelines remain a challenge. We are particularly focused on deep retrofits and the warmer homes scheme. Average wait times, as acknowledged earlier in the House, remain high because the works are complex and demand is strong.”
“I am very much focused on trying to get the target number of applications through to approval stage and allow many homes which deeply require these upgrades to get them in a more efficient manner.”
“Again, we are in the process of simplifying the application process. We understand we need to do more to drive down wait times. We want to continue to deliver deeper, more complex upgrades at an unprecedented scale. The target for next year is over 60,000 upgrades and we are very much looking at accelerating that further. We have looked at cost inflation around much deeper upgrades. They have substantially increased from €2,600 ten years ago to over €29,000 now. There has been a surge in demand and we cannot ignore that but we have action under way in relation to increased budgets, extra SEAI staff, which is really important, and also a stronger contractor management system.”
“Budget 2026 has provided increased funding. That demonstrates the level of intent in regard to a €89 million increase and we do expect additional European funding through the ERDF. This funding is very much needed now to make homes warmer, healthier and cheaper to heat. We are also matching that funding with capacity. We are enhancing the grants. We know we need to simplify the application process. We need more one-stop shops. We now have around 26. We have increased the deeper, warmer home supports. We have also looked at new area-based projects. The new home energy upgrade loan scheme has been provided at a rate of close to 3%. These are all initiatives that will build the pipeline we want to see in the coming years. Through the NDP review, we have provided a substantial allocation to support this.”
“The Department is very focused on continuing to fund these upgrades and prioritising those who are most in need and we are building on the pipeline for 2026.”
“Over 76,000 B2 level upgrades have been supported to date. For 2025 we have allocated over €550 million for SEAI residential and community energy upgrades, including solar PV. This is the highest ever. Budget 2026 provides €558 million from carbon tax receipts and an €89 million increase is expected to be further supplemented through the European Regional Development Fund to keep delivery moving at pace. We are on track to stay within the residential sectoral emission ceiling for the first carbon budget period to the end of 2025 based on the most recent SEAI assessment. Targets and allocations for 2026 will be set out in the Revised Estimates later this year. Our focus is very much on sustained investment, strong governance and steady expansion of capacity in the supply chain.”
“The Government and our Department are fully committed to making homes warmer, reducing energy bills and cutting emissions. We will do this through the retrofitting and heat pump initiatives set out in the climate action plan and delivered via the national retrofit plan, which is built on the four key pillars of demand, supply, financing and governance. Since 2019 we have made significant progress. To date there has been over €1.5 billion in support to homeowners to enable over 228,000 home energy upgrades, including over 30,000 fully funded upgrades for households at risk of energy poverty. Local authorities have delivered a further 14,300 upgrades, including over 7,250 heat pump installations. These are real measures, real upgrades and real savings for households. In parallel, delivery quality is rising.”
“I thank the Deputy and the Opposition for supporting the general scheme of the Bill. No amendments have been tabled on Report Stage. We welcome the Deputy's engagement and contribution. In general terms, the intent is that employees continuing in employment past the age of 65 should, where possible, be treated in the same way as colleagues below that age. We understand the challenges around the income gap experienced by a person required to retire at an age lower than that at which the State pension can be accessed. That is a key objective of the Bill. Indeed, we are very supportive in that regard. I thank everyone for their contributions in the House. Without further ado, we look forward to moving it to the Seanad.”
“I also thank the officials within the Department of Enterprise, Tourism and Employment for their hard work on progressing the Bill. I look forward to the Bill progressing through the Seanad.”
“I welcome the successful passing of the Bill through the Dáil. This Bill will introduce a new employment right and will facilitate workers who want to continue in employment until they first access the State pension. It also makes the necessary provision for the limited cases where a lower retirement age may be required. The Bill gives effect to a Government commitment under the Pensions Commission's recommendations and implementation plan. This is a balanced and proportionate measure. It respects the rights of employees while recognising the operational needs of employers. It is a positive step in improving adequacy of income for older workers and it reaffirms our long-standing policy to encourage and support longer and fuller working lives. I thank Deputies for all their contributions and engagements, especially on Second Stage.”
“I acknowledge the significant work of the Attorney General, his officials, and officials from both the Department of Finance and the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation who have worked with my departmental officials here today in drafting this important legislation. I also thank the members of the Joint Committee on Climate, Environment and Energy for meeting officials for a technical briefing in advance of granting a waiver on the pre-legislative scrutiny. I also thank Deputies from all sides of the House here today for their interest and contributions. I look forward to the early consideration of the next Stage of the Bill taking place tomorrow.”
“That plan will be guided on the approach around data centres, which provide huge importance within our enterprise system, but we need to provide certainty to the industry when making short- to medium-term investment. Regarding future grid investment and ESB profits, a number of Deputies asked about grid investment. To date Ireland has invested in the grid at a similar pace to our EU peers, maintaining and upgrading EirGrid as required. Ireland needs to go through a period of change in the use and demand of electricity. Adapting our grid for this increased demand for energy is critical in order to progress our decarbonisation. I am confident that the legislation before the House today is an important step in future-proofing our grid for generations to come.”
“We are also providing a range of grants to include solar PV on homes, businesses and farms to make it easier for people to improve their energy efficiencies and produce their own energy. We have also received confirmation from the main energy suppliers that the hardship funds for those struggling to meet their energy costs will also be made available to households over the winter. Deputies asked how much investment has been allocated in facilitating new data centres. I assure them that price review 6 takes many Government targets into account including the connection of up to 50,000 new homes a year, up to 1 million electric vehicles and currently contracted data centre demand. The programme for Government commits to developing a comprehensive plan to accelerate energy generation connectivity and the planning process.”
“In addition, the €1.5 billion investment in ESB, which the Bill we are discussing will facilitate, will help keep consumer costs associated with the PR6 infrastructure programme to a minimum by ensuring the ESB maintains a high credit rating but also can borrow at low interest rates. In terms of supporting householders and businesses on the more immediate basis, I again highlight some of the key measures Government is progressing to help current energy costs, including the extension of the reduced VAT rate of 9% on gas and electricity. We also increased the weekly fuel allowance by €5 from January 2026. That will provide an additional €140 to over 400,000 households during the annual fuel allowance season. We are extending the €400 tax exemption from profits from micro-generation of electricity to 2028.”
“We are very much reliant on imported gas, which is particularly vulnerable to price volatility in the international wholesale gas market. We are very much focused on building a more renewable base. Electrification provides a route not just to decarbonising our energy system but also reducing our dependency on imported gas. We, along with many of our neighbours, very much feel the impact of our vulnerability to reliance on gas as our main energy source. We are making great strides in substituting our fossil fuels with indigenously generated wind and solar energy. This journey to a clean energy source is very much part of this programme. Electrification can only be achieved through investment in our electricity grid. That is what we are focused on through this Bill.”
“It is another important piece of legislation that demonstrates the Government's commitment in meeting our critical infrastructure needs as a State and balancing the needs around housing, economic growth and employment in our economy in delivering the key infrastructure we require. I will respond to some of the key themes and questions raised by many Deputies. One related to high energy prices. Many Deputies raised their concerns around the impact of these high prices on households and businesses. We fully understand these concerns. Many Deputies will be aware that a number of factors give rise to higher energy costs right across Ireland. One of the principal factors is our current reliance on fossil fuels, in particular, imported gas.”
“The Government's investment will be complemented by additional privately sourced debt, funded by the ESB, to finance the delivery of the overall price review 6 investment programme. The Bill will ensure that it also provides for the increase in the ESB statutory borrowing limit from €12 billion to €17 billion. This large-scale investment in the grid as part of PR 6 will deliver energy security into the future for Irish families and communities right across the country. It will significantly improve network resilience and future-proof it for generations to come. It will enable the connection of hundreds of thousands of new homes - as I said, we have an ambitious target of over 300,000 homes over the term of this Government - improve connectivity and accelerate the connection of new sources of renewable electricity.”
“The company will be obliged to report to the CRU, on a programme by programme basis, on cost, performance, delivery and the timeline for delivery. The Minister will also require ESB Networks, as part of this investment, to report quarterly on network expenditure, network financing, delivery and debt, which is very important. There will be a clear and transparent reporting mechanism for the Minister. That has been an important theme that needs to be emphasised as part of this. It is also important to recall that the State itself will receive, on a receive-return basis, a return on its €1.5 billion investment and, as the major shareholder, on ESB profits via payment of dividends.”
“This will be the mechanism by which the Government will provide the €1.5 billion investment in the ESB to support critical development of our electricity and grid over the next five years, as committed to in the updated national development plan. This investment will be crucial, as many Deputies said, in modernising, building that resilience and reinforcing our electricity network infrastructure. It will also support the Government's key priorities in infrastructure, housing, competitiveness, investment growth and climate action. Within that, there will be a robust accountability and oversight mechanism for the expenditure by ESB Networks. Indeed, that will increase significantly in price review 6.”
“I also warmly congratulate our President-elect, Catherine Connolly. I wish her the very best in her appointment. Leaving Mayo-Galway rivalries aside, I know she will do a tremendous job. I wish her the very best. I thank all the Deputies for their engagement in respect of this very important Bill. I appreciate the general support right across the Chamber in that regard. The fact that many Members have contributed to the debate demonstrates the importance and relevance of energy issues. I welcome the broad range of contributions on such wide-ranging issues. I will, most importantly, keep my comments focused on the content and purpose of the Bill. It is perhaps worthwhile to begin by restating the purpose of the Bill. It is very much focused on creating capital stock in the ESB in return for payment.”
“The new subsection (6) provides for the procedure for the Minister for Finance to make payment to the ESB up to the value of €1.5 billion for the capital stock from the Central Fund; and the new subsection (7) enables the ESB to make a concomitant capital stock issue to the trustees of the employee share ownership plan, should the trustees choose to participate, to maintain their current shareholding percentage. Section 4 amends section 11 of the Electricity (Supply) (Amendment) Act 2001 to insert a reference to the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation in relation to expenses incurred in the administration of the Act. Section 5 contains standard provisions outlining the Short Title of the Bill and its collective citation. I commend the Bill to the House and I look forward to the debate.”
“Section 3 amends section 2 of the Electricity (Supply) (Amendment) Act 2001 by inserting new subsections. The new subsection (5) provides for the issuance of capital stock by the ESB in return for payment up to the value of €1.5 billion; that 90% of such stock shall be issued to the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation; and 10% of such stock shall be issued to the Minister for Climate, Energy and the Environment.”
“The valuation determines the price per stock and, therefore, the number of shares the Government will receive from its €1.5 billion investment and its final percentage holding in the company. ESB management has advised my Department that ESB employees are supportive of both the equity investment by Government and the ambitious PR6 investment programme. On a separate but important note, legal consideration has determined that the equity investment does not give rise to any issue of state aid. I will provide a section by section summary of the Bill, which has five sections. Section 1 provides for the relative definitions of the Bill. Section 2 amends section 4 of the Electricity (Supply) (Amendment) Act 1954 to provide for the increase of the statutory borrowing limit of the ESB from €12 billion to €17 billion.”
“Employee shareholding ownership came about in 2001 when stock was granted to employees of ESB as part of an overall cost and competitiveness review agreement with the ESB group of unions. It is important to note that the Bill has been drafted to also enable ESB to issue stock to the ESOP in return for payment, should it choose to also invest in ESB to maintain its current shareholding percentage. The ESOP will have a period of up to 12 months following Government investment to make its investment. Should the ESOP choose not to participate in the equity investment, the State's shareholding will increase. An independent valuation is currently being carried out by EY for ESB and the shareholders, which will provide a valuation range for ESB.”
“The second objective is to provide for the issuance of capital stock by ESB in return for payment up to the value of €1.5 billion. The stock shall be issued to the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation and the Minister for Climate, Energy and the Environment. Issuing capital stock which will be fully subscribed to by the State allows importantly for Government to attach the condition that the €1.5 billion investment be used specifically for grid infrastructure projects carried out by ESB Networks. It also ensures that the investment is reflected in the shareholding percentages of the company. At present, the State's shareholding in ESB stands at 97.4%, whereas the employee share ownership plan, ESOP, holds 2.6%.”
“It is important to note that the State will receive an increased stock holding in ESB in return for this investment. The State will continue to receive dividends in proportion to its shareholding. I will now turn to the Bill's subject matter. I will begin by providing a brief overview of the most important measures the Bill addresses before providing a section by section summary of the Bill. The legislation before the House today has two main objectives. The first is to increase the statutory borrowing limit of ESB from €12 billion to €17 billion to finance the delivery of the PR6 investment programme. This increase is necessary to support the potential €15.2 billion expenditure by ESB Networks in the 2026-2030 PR6 period.”
“While the investment does not directly lower current customer electricity bills, maintaining strong credit ratings ensures that ESB can borrow at the most competitive interest rates which ultimately lowers the impact of network charges on customer bills. The equity investment by Government sends strong market signals and demonstrates shareholder support at a time when credit rating agencies have noted general market concerns in relation to the high levels of capital expenditure required in electricity infrastructure across Europe. In fact, since announcing the Government equity investment, Standard and Poor's rating agency has announced an improvement in its credit opinion for ESB, upgrading ESB's issuer credit rating to A from A minus.”
“This overall investment plan will be financed by debt issuance on the bond market, supported by Government's equity investment and ESB Network's regulated income, as approved by the CRU. It will see delivery of over 500 capital projects across transmission and distribution networks. This includes 181 km of new overhead lines, 319 km of new underground cables, nearly 70 new and upgraded substations across the country and 50,000 pole replacements. ESB Networks will expand, modernise and reinforce our onshore electricity network infrastructure. Without Government equity investment, ESB would be unable to deliver such an extensive and rapid programme of work in the five years to 2030. The Government equity injection into ESB will support the strength of its balance sheet and ultimately assist in it maintaining excellent credit ratings.”
“The equity investment in ESB is required by the end of this year to ensure payment from the Central Fund of Government approved NDP funding in the 2025 budget and to ensure ESB is sufficiently financed to deliver the ambitious onshore grid investment programme, continuing and expanding its existing investment in our grid. As such, the Minister, Deputy O'Brien, and I sought a pre-legislative scrutiny waiver from the Joint Committee on Climate, Environment and Energy. The waiver was granted following a technical briefing on the Bill being provided to the committee by officials from my Department. The €1.5 billion equity investment in ESB is to support ESB's ability to finance the overall investment plan for 2026-2030 as part of PR6.”
“Some €2 billion will be invested in EirGrid to support the financing of its offshore grid investment plans and €1.5 billion will be invested in ESB to support the financing of its onshore grid investment plan. In respect of the equity investment mechanism for EirGrid, it is to be noted that this will be agreed and legislated for separately. Investment by EirGrid in offshore grid will begin next year. However, the majority of its investment will not occur until later this decade. The €2 billion Government investment will be allocated over the next five years to support EirGrid access the capital markets and fund its investment. In terms of the investment in ESB, this Bill has been progressed as matter of priority.”
“The investment also has huge importance for our economy and will be key to ensuring that the State can increase the critical infrastructure it needs to ensure continued economic growth and employment in our economy, in addition to continued foreign direct investment. The investment will ensure we can support the expected 50% growth in electricity by 2035 and deliver on Ireland's energy needs. The scale of the increase, however, means that both companies need financial support to deliver the ambitious infrastructure investment programmes. In July of this year, as part of the national development plan, Government agreed the investment of up to €3.5 billion in additional equity to support the PR6 grid investment programmes over 2026-2030 and beyond. This represents the largest single investment ever made in Ireland's electricity network.”