Ireland faces more burning energy prices during the summer months in the next seven years, new research has predicted.
That is because the all-Ireland power grid is predicted to rely on gas when the wind does not blow.
However, with solar energy making up 12% of this renewable energy, the summer months, with much heavier reliance on gas, will see prices remain above the historical average until at least 2029.
Niall Durham, a senior consultant at Cornwall Insight, said: “Energy prices are currently at an all-time high with low capacity margins meaning Ireland is having to run expensive and environmentally damaging coal and gas-fired generators to ensure supply, all the while the Russian invasion of Ukraine continues to have a significant impact on gas wholesale prices across Europe.
“As we look over the next eight years, many will be heartened to see our All-Island power forward curve show a steep drop in energy prices as Ireland moves away from gas towards a renewables-led future.”
Mr Durham added: “However while lowering the reliance on gas does mean Ireland is less susceptible to economic and geopolitical changes, the unpredictability of renewables such as wind and solar does still leave the market vulnerable to variations in supply.”