The Government is committed to investing in our critical infrastructure. Price Review 6 (PR6) will deliver upon the Programme for Government priority to ensure that the necessary investment is made in our electricity grid. The Commission for Regulation of Utilities (CRU) as the independent economic regulator of EirGrid and ESB Networks is responsible for PR6. The CRU are proposing to approve an investment of up to €18.08 billion in our electricity system between 2026 and 2030, with a €14.1 billion baseline investment guaranteed. Government is investing €3.5 billion in equity in EirGrid and ESB Networks to ensure that PR6 can be delivered. A final determination on PR6 by CRU is expected by year end.
The impact on customer bills during PR6 will vary by their usage and connection type. While the PR6 draft determination included an estimated annual impact of the network tariffs, this will be superseded by the final determination. CRU, as the independent regulator, will provide updated impact assessments as part of the final determination.
Affordability is a key objective for the government. The National Energy Affordability Taskforce (NEAT) has been established by my Department to identify, assess and implement measures that will enhance energy affordability for households and businesses while delivering key renewable commitments and protecting security of supply and economic stability.
The core objectives of the Taskforce include drafting an interim plan which analyses energy price trends, and identifies measures to support households and businesses in the near term. This report will be published in the coming weeks. This work precedes the preparation of an Energy Affordability Action Plan which will examine the possibility for structural reforms to lower costs for households and businesses.