Minister's speech - Energy Ireland Conference 2026 - 17 June 2026

Introduction

Good morning, and thank you to Energy Ireland for the invitation to speak to you again this year.

Since we met here last year the need to end our reliance on imported fossil fuels has become even more clear.

US/Israeli attacks on Iran, in addition to Russia’s continued invasion of Ukraine, have caused a crisis in the cost of living and the cost of doing business.

In Ireland we have the means to become self-sufficient in local renewable energy and control the price that we pay for it.  

As agreed by the Northern Executive in 2021, delivery of the Energy Strategy means travelling the pathway towards self-sufficiency in affordable renewable energy to deliver energy at a stable and lower cost to homes and businesses.

My focus as Minister is to accelerate progress on laying the foundations for lasting price stability, sustainable investment, and an economy powered by reliable, and affordable clean energy.

At the end of last year, my department published a Mid-Term Review of the Executive’s Energy Strategy and this month marks the half-way point of the nine-year strategy.

We also publish annual Action Plans, the latest published in May, setting out our near-term priorities. This year, I will also publish an Energy Strategy Position Policy Statement with milestones to 2030.

Recent official figures put the annual value of our green economy at over £1.5 billion against a £2 billion target. That is a growth of over 60% in less than a decade, showing the opportunity in growing renewable energy.

 Today, at 48%, almost half of the electricity generated in the North is renewable, with figures trending upwards once again because of actions that we worked on with the system operator, SONI.

To be clear, having reached a peak of 51%, official figures fell to 43%, due mainly to maximising imports of cheaper electricity from Britain, set against falling electricity demand, unlike down here in the South, where the challenge is different, in the need to meet rising demand driven by data centre growth.

I am proud of the work we have done with SONI to drive up the amount of renewable electricity we are using, whilst continuing to import as much lower cost electricity as possible through the interconnector with Scotland.

In energy savings we are now at 15% of the Strategy target, lower than what is actually being achieved due to the lagged nature of reporting against policy interventions with some 2024 interventions not yet reported and many of the 2025 interventions also still to report.

Through our work for the Climate Action Plan, we have clear line of sight on how to achieve the energy savings target to 2030, even if it will inevitably take several years into the 2030s for it to be fully reported. 

Turning now to some specific progress, I am pleased to highlight that we recently became the first jurisdiction across Ireland and Britain to consult on detailed geothermal regulation.

I was also delighted to publish our smart electricity meters design plan. We are learning from the experience of the rollout down here and across in Britain and I have asked NIE Networks to deliver first meter installations in 2028 and complete the rollout by 2030.

Smart metering will play an important role in tacking fuel poverty and I would like to prioritise delivery to lower income households as they have the potential to benefit relatively most.  

REPG

Continued growth in renewable electricity generation is essential to meeting our targets and to opening investment and green growth opportunities across Ireland.

I look towards the Utility Regulator to accelerate on the delivery of grid infrastructure and flexibility that enables new renewable electricity capacity to be secured at the right time through our new support scheme, the Renewable Electricity Price Guarantee.

This is currently with the Executive for agreement.

Once in law, it will be used over the next 25 years to deliver lower electricity costs to households than they are paying today.

Grid-scale battery energy storage is another important piece of the jigsaw for cost-effective security of electricity supply, and I intend to outline energy storage policy by the end of this year.

Similarly, in the coming months, I will publish an Electricity Interconnector Policy Statement.

Increased interconnection will enable us to export surplus renewable power when it is windy and import lower cost electricity when we need it.

The North South Interconnector is critical to reducing electricity costs for consumers.

At a time of global uncertainty, strengthening our all-island infrastructure is essential to delivering a secure, resilient and affordable energy system.

Construction in the North is well underway. I remain committed to working with delivery partners to ensure this vital project is progressed.

SEM

I am a strong supporter of the Single Electricity Market, or the SEM, which has delivered significant benefits for consumers north and south.

It is important that affordability remains at the centre of how the SEM evolves and I welcome the work that the SEM Committee is doing on the Strategic Direction for the SEM going forward.

Recently, the concept of ‘recoupling’ the ‘day ahead’ EU’s Internal Electricity Market and the British electricity wholesale market has gained prominence as part of the Labour Government’s reset with the EU. I hope that these negotiations lead to agreement in this area, as the prize in terms of cost reduction for electricity consumers on this island is a material one.

Heat

Critically, an important part of our journey towards decarbonisation lies in how we heat our homes.

People deserve the security of a warm, comfortable home, without being exposed to sudden rises in oil and natural gas prices.

My department is developing a new Domestic Energy Efficiency and Low Carbon Heat Programme that will provide support to homeowners to move to a more stable and lower cost approach for home heating.

A public consultation on the structure of the new support scheme will launch this summer, and will inform my final decisions on the measures the scheme will support, the financial support available and the quality assurance measures that will be needed.

Conclusion

I want to finish by reiterating the importance that the energy revolution that we are driving not only delivers change but brings tangible benefits to consumers.

In March, the Climate Change Committee, who are advisors to the British Government, reported that the cost of achieving net zero by 2050 is lower than the impact of a single fossil fuel price shock event – and we have had two of them in the past 4 years alone.

This means that we must accelerate the ending of our reliance on importing fossil fuels and deliver self-sufficiency in affordable renewable energy – affordability is the critical consideration and people must see and feel the benefits of change, and have confidence that this energy revolution will be fair, properly supported, and focused on lower and more stable energy costs for the long term.

I am continuing to accelerate progress in the north, laying the foundations for lasting price stability, sustainable investment and an economy powered by reliable, and affordable clean energy.

That is the prize, and it is within our reach.

Thank you.