The introduction of the new all-island Integrated Single Electricity Market in Ireland will spur a deeper move to renewables, according to a new report.
Aurora Energy Research said the “worst-polluting” fossil fuels will be forced to compete with cheaper sources of green energy under the system, which is due to go live later this year.
In the report Aurora also called on Dublin to provide “strong” regulatory “signals” on renewables support to “reassure investors and developers”.
Head of production development Mateusz Wronski said “such all-encompassing changes to the markets” via ISEM will “mean there will be a significant shift in the way the all-island system will generate electricity”.
“With competition comes short-term uncertainty, but also the opportunity for providing cleaner electricity to consumers with little effect on bills,” he added.