- The Irish Independent reports on the recent Arctic blast that has led to a significant increase in demand for home-heating oil, with many households stocking up to avoid running out. Despite the surge, prices have remained stable, currently around €977 for a 1,000-litre fill, which is double the price from five years ago. Nicholas Hayes from the UK and Ireland Fuel Distributors’ Association reported that distributors are extremely busy and facing challenges in making deliveries, especially in snow-covered areas like Kerry, Clare, Cork, and west Tipperary. Smaller vehicles are being used to navigate these difficult conditions.? https://www.independent.ie/business/money/were-unbelievably-busy-ice-cold-conditions-prompt-surge-in-demand-for-home-heating-oil-but-theres-good-news-about-its-price/a768445996.html?
- According to the Irish Examiner, Ireland has surpassed 5,000 MW of installed onshore wind capacity, with wind energy providing a third of the country’s power in 2024. However, Wind Energy Ireland reports a 3% drop in wind-generated electricity compared to 2023 due to grid limitations. Noel Cuniffe, CEO of Wind Energy Ireland, stressed the need to strengthen the grid and expand energy storage to handle increasing renewable energy. Despite challenges, wind energy supplied 41% of Ireland’s electricity in December, the second-best December on record. https://www.irishexaminer.com/business/economy/arid-41550784.html?
- As covered in the Business Post, Lumcloon Energy plans to build a 250 MW data centre in Co Westmeath, Ireland, through its subsidiary Red Admiral DC. The facility is said to feature six data centre halls and generate its own energy on-site, making it Ireland’s first self-powered data centre. The project, developed in partnership with South Korea’s SK Ecoplant, is currently at the pre-application stage with An Bord Pleanála. A decision is yet to be made.? https://www.businesspost.ie/news/one-billion-euro-red-admiral-data-centre-planned-for-midlands/?
- As covered in the Irish Independent, thousands more homes will now qualify for electric heat pump grants due to changes in eligibility rules. The new rules adjust the heat loss indicator, which measures how well a property retains heat. Previously, homes built before 2007 needed an HLI of 2 or less to qualify automatically, or up to 2.3 under certain conditions. Now, the threshold has been raised to 2.3 without additional conditions.?This change allows homes with good insulation to receive the grant, rather than only those with the highest level of insulation, which has been a costly barrier for many households.? https://www.independent.ie/irish-news/eligibility-for-heat-pump-grant-is-widened-but-changes-dont-go-far-enough-expert-warns/a504554616.html?
- Outlined in the Irish Times, Volkswagen is struggling to meet EU emission targets as EV deliveries decline. The?brand delivered 383,100 all-electric vehicles in 2024, a 2.8% drop from 2023, amid increased competition in China. Globally, VW delivered 4.8 million vehicles, down 1.4%, with an 8.3% decrease in China. Group-wide figures are expected next week. Martin Sander, head of sales, marketing, and aftersales at VW’s passenger car business, attributed the challenging year to sluggish economic activity, political challenges, and intense competition, particularly in China.?https://www.irishtimes.com/business/2025/01/09/vw-strains-to-hit-eu-emission-targets-as-ev-deliveries-tumble/?
- According to Reuters, U.S. President-elect Donald Trump announced plans to quickly revoke an offshore oil and gas drilling ban implemented by outgoing President Joe Biden. Trump stated he would reverse the ban on his first day in office and, if necessary, take the matter to court. However, reversing Biden’s order to withdraw 625 million acres of ocean from new offshore development may require an act of Congress due to the Outer Continental Shelf Lands Act, which does not grant presidents the authority to overturn prior bans. Trump also expressed intentions to open oil and gas development in the Arctic National Wildlife Refuge and block new wind projects, aiming for a policy against building windmills.? https://www.reuters.com/business/energy/trump-i-will-revoke-offshore-oil-gas-drilling-ban-vast-areas-day-one-2025-01-07/?
- In a report by Euronews, Chinese companies are investing heavily in Hungary, with plans for a Chinese electric car factory and Europe’s largest battery factory in Debrecen by 2025. This €7 billion project promises economic growth and jobs but raises concerns about environmental risks and Hungary’s dependence on China and Russia.?Battery factories are being built across Europe to reduce reliance on Chinese imports. The EU aims to expand battery production to 1.7 terawatt hours by 2030 to support the shift to electric cars and combat climate change.?https://www.euronews.com/my-europe/2025/01/08/factories-from-china-spark-geopolitical-debates-in-europe?
- As covered in Reuters, Britain’s gas storage levels are alarmingly low, with less than a week’s worth of gas remaining after a recent cold snap, according to energy company Centrica. The cold weather and snow have increased gas demand, which heats about 75% of British homes. Low wind speeds have also reduced wind farm output, further increasing gas demand for electricity production. As of January 9, 2025, UK gas storage sites are 26% lower than last year’s levels at the same time, leaving them around half full. This means the UK has less than a week of gas supply in storage.?https://www.reuters.com/business/energy/britains-gas-storage-levels-concerningly-low-centrica-says-2025-01-10/?
