Fall in demand for electricity into 2010

DEMAND FOR electricity is set to fall in the Republic over the rest of the year and into 2010 as the recession hits business and domestic power consumption, according to figures that will be published today.

Eirgrid, the agency which manages the national electricity transmission system – the national grid – will today publish an update to its forecasts for power demand and supply between this year and 2015.

The report forecasts a fall in demand for electricity this year of between 4 per cent and 5 per cent, with a further drop of up to 1 per cent in 2010.

The predictions reflect the deteriorating economic situation and a fall in demand that dates back to January this year.

The figures also take into account the latest economic data, and forecasts from the Central Statistics Office, the Central Bank and the Economic and Social Research Institute.

Eirgrid’s Generation Adequacy Report is designed to measure future demand for electricity in order to ensure that the Republic’s power stations have the capacity to produce enough power to meet this demand.

The report shows the system will have enough power to meet demand and ensure there is a sufficient surplus to guarantee supplies until 2015.

This is based on plans by operators to open new generating plants and close old ones.

The State energy regulator sets the price charged by the ESB to householders. The prices charged by its rivals in that market, Bord Gáis and Airtricity, are not regulated.