Measures from industry regulators to promote the “microgeneration” of renewable electricity will also benefit the owners of micro-hydro and micro-wind systems for producing power.
The Commission for Regulation of Utilities plan, details of which have been published, aims to pay people for exporting green energy surplus to their requirements into the national network. It holds out the prospect of consumers receiving some return from installing often costly systems that curb their own carbon emissions. The move comes alongside a drive to drive to deploy electronic smart metering throughout the State by 2025, making it easier to quantify how much power customers provide for the grid. The amount sent in by customers without such meters will be estimated until they receive them.
It comes as the industry struggles to meet rising demand for power. Regulators and the Government have taken steps in recent weeks to procure new gas generation, curtail new data centres and prolong using coal and oil generation, all while building up industrial scale renewable energy infrastructure.
The price of microgeneration power will be determined by market forces, under measures cast as an interim solution in anticipation of an enduring policy being finalised by December 2022.
“These arrangements will provide suppliers with flexibility to provide dynamic pricing to incentivise efficient micro-generation and consumption decisions which consumers can benefit from (e.g. by exporting more energy during high demand periods when prices may be higher than average),” the regulator said.
The price of microgeneration power will be determined by market forces, under measures cast as an interim solution in anticipation of an enduring policy being finalised by December 2022. ‘
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