Ireland’s €350 Million North-South Interconnector is to be delayed by another three years until October 2031. Currently, the state has set plans of compulsory purchase orders (CPOs) of land in order to make sure that the project can be completed. This information was revealed by The Business Post.
Effects of the Delay
The latest delay poses a threat to the state’s climate targets. It exposes the taxpayers to billions of euros in EU fines. Additionally, this also implies that both businesses and consumers will continue facing higher electricity bills. They will be exposed to the higher bills if the interconnector will not be built.
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According to statistics released by the government, it was estimated that by the end of the decade, up to an additional €100 million would be added to the bills of the customers if the interconnector is not constructed.
Ireland’s €350 Million North-South Interconnector Project Factsheet
Purpose: To eliminate the risk of widespread power failures by adding a second, higher-capacity interconnector.
Route: It will connect the network in Northern Ireland in Co Tyrone, cross the border between Armagh and Monaghan, and get to join the network in Ireland at an existing substation in Co Meath.
Benefits: Improved security and efficiency of electricity supply, downward pressure on costs, increased renewable energy capacity, and support for social and economic growth in the surrounding regions.
Current Status: The project is currently delayed.
The minister of energy, Darragh O’brien, spoke to the newspaper regarding the situation. He said that he was fully aware of the delay towards Ireland’s €350 Million North-South Interconnector project. Additionally, he stated that he had set plans to hold meetings with both EirGrid and ESB Networks on this issue in the coming days.
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