EirGrid Publishes Provisional Results of the Second Renewable Electricity Support Scheme Auction – EQ Mag Pro
EirGrid has published the provisional auction results of the second Renewable Electricity Support Scheme (RESS 2) auction in Ireland.
RESS is a competitive auction-based scheme which invites renewable electricity projects to bid for capacity and receive a guaranteed price for the electricity they generate for a maximum of 16.5 years.
The RESS 2 auction will support the achievement of the increased ambition of 80% renewable electricity by 2030 as set out under the National Development Plan and the policies and measures in the Climate Action Plan 2021.
RESS delivers a broad range of policy objectives, including providing an enabling framework for community participation through the provision of pathways and supports for communities to participate in renewable energy projects.
The provisional results have today been issued to participants and are also available on the EirGrid Group website. The provisional results have been issued to the Minister for the Department of the Environment, Climate and Communications (DECC) for consideration. If approved by the Minister and Government, the final auction results will be issued on 15th June.
There were 130 renewable energy projects that participated in the auction.
RESS is a Government of Ireland scheme and EirGrid has been tasked with implementing and operating the auctions. The Commission for Regulation of Utilities provides competition advice as well as auditing and monitoring the auction process.
In July 2020, Eamon Ryan, Minister for DECC, announced that Ireland has received state aid approval from the European Union to operate RESS out to 2025. It is envisaged that a minimum of four auctions will occur between 2020 and 2025 to deliver on the 2030 targets.
Source: eirgridgroup
