Development (Strategic Gas Reserve) Bill 2026: Committee and Remaining Stages
Seanad Éireann — 2026-07-16
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Timmy Dooley (FF), Clare

It is, but it is not an either-or situation. If €1 billion could sort it out with more batteries, wind or solar then that is the route we would be taking. We are investing very significant amounts of money in our electricity grid. This year, the State will put about €3.8 billion into EirGrid and ESB Networks to strengthen the grid to enable it to take more renewables. That will allow them to borrow about €18 billion, which will be spent between now and 2030. The State is making very large investments in our overall energy architecture and infrastructure. That notwithstanding, there is - for want of a better expression - a gaping hole in our energy security. I would much prefer to see €1 billion being spent on anything else than on this but it is an imperative. It has been identified as a very significant risk to our energy security. It would have a long-term impact on our economy, not just on our hospitals and schools and those that use energy but on some of our large energy users that are very large employers. The negative impact of a loss of gas could do very significant damage to the reputation of the country, which has taken a lot of time to build up. It has been built on the back of successive Governments' industrial policies and Ireland's attractiveness for inward investment. The IDA and others have put so much time and effort into it. It would be remiss of any Government in possession of a report on our energy security that identifies a strategic risk not to respond in the way we are doing, the very significant cost notwithstanding. It is the appropriate thing to do in the circumstances that we find ourselves in.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2026-07-16/debate/main
Retrieved: 2026-08-27T06:52:17+00:00
Sitting date: 2026-07-16