Clare has been dealt what one government TD has called a “massive blow” with news that Moneypoint Power Station has lost out on its primary source of income from October 2024 onwards.
The ESB says it’s disappointed that Moneypoint has not qualified for an auction that has usually seen it awarded a key contract to supply electricity.
Moneypoint Power Station has not prequalified for the annual T-4 auction.
This capacity auction, run by Eirgrid and SONI in Northern Ireland, sets out how power will be supplied to the whole island, and is designed to deliver a reliable electricity supply at a reasonable cost, while also encouraging new and efficient sources of power generation.
It has traditionally represented Moneypoint’s main source of income, but that’s now been removed for at least the period of October 2024 to September 2025, after the West Clare plant did not prequalify.
The ESB, which runs Moneypoint, says it’s disappointed and warns that this presents “further viability challenges” to the plant, which has already been dealing with a number of economic challenges.
The company will now take time to consider the impact of this move on the plant’s future.
Fianna Fáil TD Cathal Crowe has called this a “massive blow” for Clare, and one which raises more uncertainty over the future of Moneypoint, which is already due to cease burning coal in 2025.
He’s seeking a meeting with Taoiseach Micheál Martin on the issue.
The ESB, meanwhile, says that as Ireland is “rapidly” transitioning to renewable energy sources, with gas as a backup in period of low wind, it feels Moneypoint can have what it’s called “a back-up role” to play in this future.
