AQW 1375/22-27 Written question to the Minister for the Economy
To ask the Minister for the Economy how the varying percentage of energy created by renewable sources in Northern Ireland impacts the price consumers pay for electricity.
Asked by Claire Sugden MLA on 13 June 2022
- Answered
- Written
- Tabled
- 13 June 2022
- Answer due by
- 28 June 2022
- Answered
- 22 June 20229 days after tabling
- Department
- Department for the Economy
- Priority question
- No
Answer
There are many factors that impact on the price of electricity including the availability of renewables on the system. In periods of high wind, prices tend to drop with the highest prices associated with a lower wind forecast.
When renewable energy is available on the system, it has a dampening effect on the wholesale price, pushing down the price set by traditional thermal generation.
However, renewable energy availability is intermittent and the system remains reliant on traditional fossil-fuelled generation to ensure security of supply. Therefore, the predominant influence on electricity prices remains the wholesale cost of fuel.