On 31 March, I attended a meeting of EU energy ministers to discuss the EU-wide response to rising energy costs caused by conflict in the Middle East. This meeting followed from a letter from President Von Der Leyen to Energy Ministers, setting out potential measures that could address high prices.
The European Commission will provide additional details in the coming days on these proposals, particularly in respect of network charges and electricity taxation.
My officials have had regular and ongoing engagement with the EU and international organisations on this matter, including via the European Commission's Energy Union Taskforce, Oil Coordination Group and Gas Coordination Group, and the International Energy Agency's Oil Working Group, and Governing Board.
Ireland was also one of the Member States that participated in the International Energy Agency’s collective action for an oil stock release. The EU is well served by its prudent level of Strategic Reserves, relative to other parts of the world.
The current conflict underlines why we must accelerate the deployment of renewables across all sectors, continue to invest in our grid, and continue to invest in retrofitting of homes and businesses across the country.
During our upcoming Presidency of the Council of the EU, we will drive the EU’s energy agenda, including making meaningful progress on the Grids Package, the Energy Security Regulation, and other key files which will help with the EU and Ireland’s security of supply and energy costs.