Ireland’s Guide To Money And Living

Ireland’s energy future

Ireland energy

The Energy Institute, which acts as the professional body for the energy industry in Ireland, has released the results of a survey which highlights a lack of knowledge regarding a variety of energy-related topics.

This survey coincides with the launch of Ireland 2050, a new website developed to help people understand the major issues involved in developing Ireland’s energy systems, the choices and trade-offs for society, and the scale of the changes required. The survey revealed misunderstandings regarding the proportion of the supplier margin in electricity prices (26-75% vs actual figures of 10-15%), and the types of conventional fuels used to generate electricity.

“Our aim is to inform the public discourse about energy and Ireland’s energy future. Ireland 2050 aims to foster a greater understanding of Ireland’s energy system and the challenges ahead,” said Neil Carroll, Chairman of the Energy Institute. “My2050 is a dynamic and interactive modeling exercise where users can explore their preferred options to meet tough carbon reduction targets while finding enough energy to power the Irish economy in the years ahead. It’s for people across the country to engage with and use.”

For those interested in energy costs, the website also features answers to questions such as whether we pay a fair price for electricity in Ireland, why other European countries have lower electricity prices, and if we can protect ourselves against increases in gas prices.

“The site is an independent resource for all – layperson and policymaker alike, and is designed to empower people to engage in the debate about Ireland’s energy future. My2050 looks at energy demand and supply and allows you to choose your preferred pathway to 2050 taking into account how we travel; how we heat homes; the level of insulation we use; how green we would like to see industry and the fact that there is no silver bullet. The challenge is to reduce CO2 emissions to 20% of 1990 levels to help avoid dangerous climate change,” said David Taylor, Ireland 2050 Project Leader.

When not writing about all things personal finance, You & Your Money's editor Conor Forrest enjoys reading, football and getting lost in an ocean of Wikipedia articles.