All Island Energy Market
The significance of having a reliable and secure supply of electricity cannot be overstated. The electricity sector in any economy is a strategic resource of national importance and the Irish electricity sector is no different.
Tynagh Energy is part of the electricity generation process in Ireland which is the process of creating electricity from other forms of energy. At the beginning of 2009, the Republic of Ireland had approximately 6200 MW of dispatchable electricity generation capacity, of which Tynagh Energy contributes 400 MW.
Demand for electricity is derived from Ireland’s requirement for electricity in order to operate domestic appliances, office equipment, industrial machinery and provide sufficient energy for both domestic and commercial lighting, heating, cooking and industrial processes. In Ireland, approximately 4450 MWh of electricity will be consumed every hour. When operating at full output, Tynagh Energy will on average contribute approximately 9% of Irelands electricity requirements.
Ireland has limited indigenous sources of natural gas and is currently produced from the Kinsale Gas Field. However, the announcement that The Corrib Gas Field received planning permission for the onshore reception terminal means that an additional source is available. In the meantime, the majority of Ireland’s natural gas requirement is sourced from the Moffat pipeline connection with the UK. In recent years Bord Gáis Éireann, the state gas company, has significantly expanded the gas transmission network within Ireland.