The Department of Communications, Climate Action and
Environment (the "Department") has published its final
decision on the interaction between existing renewable energy
support schemes (ie, the AER and REFIT schemes) and the upcoming
revised wholesale electricity market, I-SEM. Click
here to view the
decision.
Background
The Renewable Energy Feed-in Tariff ("REFIT") schemes
have helped to drive significant renewable generation development
in Ireland.
REFIT (through a power purchase agreement
("PPA") with an offtaker) provides
renewable energy generators with price certainty in the form of a
floor price tariff, which is key to underpinning financing for the
generators. This tariff is calculated using a 'reference
price'. For example, in 2017, the reference price was
€69.72/MWh for wind developments above 5MW.
