Open a Company in the Energy Sector in Ireland
Open a Company in the Energy Sector in IrelandUpdated on Wednesday 21st November 2018
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In 2015, the total consumption of electricity in Ireland reached 29 TWh, increasing by 2,9% compared to the previous year. By 2030, the Irish government declared that from the total electricity consumption, 70% of it should be obtained from renewable sources of energy, which is an increasing sub-sector in Ireland.
Our team of lawyers in Ireland can assist local and foreign investors with legal advice on the procedures related to the registration of a company in the energy sector, following the applicable legislation, which is mainly given by the Electricity Regulation Act 1999. Our attorneys can provide step-to-step assistance on the business permits that are imposed to businesses operating in this sector.
What are the main trends of the Irish energy sector?
Companies interested in operating in the Irish energy industry should know that Ireland is part of the Renewable Energy Directive, set out by the European Union (EU). Under this directive, Ireland committed to offering 16% of the total energy consumption from renewable energy sources, no later than 2020. This means the local government sustains the development of businesses that are related to renewable energy sources and our team of Irish lawyers can advise on the main rules of law addressed to this sector. It is also important to know the following:
- • at the level of 2017, 27,2% of the total electricity consumption derived from renewable energy sources, as stated by the Sustainable Energy Authority of Ireland;
- • the Irish government has recently launched the Renewable Electricity Support Scheme (RESS);
- • in 2018, the country launched the Ireland 2040 investment plan, which also takes into consideration energy-related matters;
- • in July 2018, the Fossil Fuel Divestment Bill 2016 was passed by the local authorities, and it has the purpose of preventing investments in fossil fuels.
Who provides licenses to energy companies in Ireland?
In the case of businesses registered in Ireland that operate in the electricity sector, the main institution which is certified to issue business licenses is the Commission for Regulation of Utilities (CRU). The institution can issue and revoke business licenses as per Section 14 (1) of the Electricity Regulation Act.
The license issued by the CRU is necessary for operators that supply energy in Ireland and an application can be made by submitting a specific form with the institution. Please note that the application incurs the payment of a specific fee and businessmen who are interested in this subject can address to our law firm in Ireland for more details concerning any other registration requirements.