Ireland has announced a sweeping review of its electricity system, with the government promising a blueprint to reshape the country's power sector by 2050 as it races to meet climate targets and electrify its economy.
Irish Climate, Energy and Environment Minister Darragh O'Brien said on Wednesday that work is underway on a long-term strategy to set out how Ireland plans to generate, transmit and regulate electricity through to 2050.
The move from Dublin comes as Ireland has taken the helm of the rotating EU Council Presidency and vowed to make electrification a priority.
The disruption in the Middle East has also revealed how the EU's dependence on imported fossil fuels is leading to higher energy bills and inflation, with roughly an extra €50 billion spent on fossil fuel imports in just 111 days during disruptions to the Strait of Hormuz.
"Ireland's energy transition represents a momentous opportunity for us all, to help make our economy and industries more efficient and competitive, to open new opportunities for businesses, and create tangible benefits for our communities across Ireland," O'Brien said.
