On 1 March 2018 National Grid issued a Gas Deficit Warning (GDW) for the GB market due to the predicted supply and demand imbalance. Ireland can hardly be a passive observer when it comes to the GB gas market given the interconnection and market flows. The Island of Ireland and GB developed a Joint Preventative Action Plan that runs to 2018 because Ireland cannot meet the Infrastructure Standard set by the European Union alone.
With Brexit looming and the increased role of gas in the power generation mechanism from the Capacity Remuneration Mechanism (CRM), it will still require high levels of cooperation between Ireland and the UK Government even if LNG import terminals go ahead.
We consider these issues in our latest Energy Spectrum Ireland comment.
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