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Securing Today, Sustaining Tomorrow. Eirgrid Plc Annual Report 2020

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Securing Today, Sustaining Tomorrow. Eirgrid Plc Annual Report 2020 Securing today, sustaining tomorrow. EirGrid plc Annual Report 2020 Delivering a cleaner energy future EirGrid plc Annual Report 2020 Page 2 EirGrid Group operates and develops the electricity system in Ireland and Northern Ireland. Our primary role is to operate, develop and enhance the all‑island power system and the wholesale electricity market. We also develop and operate interconnections with neighbouring grids and enable third‑party interconnectors. We send power from where it is generated to where it is needed, at the most Table of Contents Introduction ....................................1 economic price possible. We also ensure Report from the Chair ..................... 4 that electricity is always available, when Transmission system map ............... 7 and where it’s needed, every second of Chief Executive’s review ................. 8 Financial review .............................10 every day – and for decades to come. Lead the Island on sustainability Because electricity can be generated without and de-carbonisation ....................12 carbon emissions, it will play a crucial Operate, develop and enhance role in our response to climate change. the all-island grid and market ....................................18 The growth in clean electricity from Work with partners renewable sources will require a decade for positive change ....................... 24 Engage for better of change to the electricity system. It outcomes for all ............................ 29 is our responsibility to define and Being a responsible business ....... 36 deliver much of this transformation. Value our people and enable them Our annual report covers the period to deliver our ambitions ................ 38 Board of EirGrid Group .................. 42 from 1 October 2019 through to Our executive team .......................46 30 September 2020. The second half Key data on operations .................48 of these twelve months was a time Glossary ....................................... 50 of immense challenge for the entire Financial statements .................... 53 world, due to the COVID‑19 pandemic. This report outlines our efforts this year to secure the supply of electricity in the context of restrictions and lock‑downs. And at the same time, we continued to develop our plans for a sustainable electricity future for Ireland and Northern Ireland. Securing today, sustaining tomorrow. EirGrid plc Annual Report 2020 Page 3 Report from the Chair 2019/2020 “Climate change is moving faster than we are – and its speed has provoked a sonic boom SOS across our world. We face a direct existential threat.” António Guterres, United Nations Secretary-General I am very pleased to present the Thankfully, as an organisation, Annual Report for EirGrid Group EirGrid Group responded well to for the financial year 2019/2020. these challenges by building on This year the theme of the report the organisational preparedness, is “Securing today, sustaining quickly re-configuring the work tomorrow”, a theme chosen because environment and drawing upon a we consider that it accurately sustained commitment from all staff. reflects the year gone by, both That commitment and response is Brendan Tuohy across the island and within the much appreciated. Chair, EirGrid Group EirGrid Group. The past financial year was the The year was in two distinctly first year of the new EirGrid Group different parts – the five months Strategy (2020-2025) – a strategy to the end of February, which were aimed at de-carbonising the island’s relatively normal, and the remaining electricity system, with a key target period to the end of September which of delivering 70% renewable energy presented some unprecedented on the power system in Ireland by challenges for society and, indeed, 2030. This target was informed by the for every organisation, including Irish Government’s Climate Action our own. These challenges posed Plan (2019) and reinforced in the by the global pandemic, while being Programme for Government (2020). global in nature, required local In Northern Ireland, we pledged to responses that tested the capability, significantly increase the amount resilience and nimbleness of most of renewable electricity we manage organisations. on the system, rising from the current world-leading 65% that can be handled on the all-island power system at any given time. EirGrid plc Annual Report 2020 Page 4 The Department for the Economy has However, the transition to a low Working with communities also begun the process of developing carbon society is hugely challenging. Reaching our renewable energy a new energy strategy, with a goal of There are significant obstacles to targets will be hugely challenging de-carbonising the Northern Ireland be overcome – political, policy, and a major part of the overall energy sector by 2050. Minister for economic, technical and scientific. response to meeting our targets the Economy, Diane Dodds MLA, But the greatest challenge will be the will require a significant increase signalled an interim target of at least significant behavioural changes that (more than 33%) in the generation 70% by 2030, which aligns with the will be required, particularly at local of electricity, much of this to cater target set for Ireland. community and individual level. for the large energy users and also the electrification of heating and The COVID-19 pandemic created There is a parallel to the challenges transport. The electricity network an unprecedented and challenging of addressing COVID-19. Despite the will require large upgrading to backdrop for the first year of Strategy significant scientific challenges of accommodate additional renewable 2020-2025, but this did not prevent developing new vaccines to address generation and a significant the organisation from staying COVID-19, there was a huge level proportion of this new generating focused on the key goals to support of co-operation between normally capacity will be required to come the delivery of the strategy, while competing companies and research from the offshore and almost all from also learning lessons from such a institutions and there was wide-scale renewable energy sources. challenging experience. global collaboration and sharing of information to tackle what was There will also be a requirement for Climate change in the perceived as a common adversary. additional interconnection to other context of a pandemic countries and, if the full capability The crucial driving force behind the But the public also had a key role of Ireland’s offshore is to be utilised, EirGrid Group Strategy (2020-2025) is to play in mitigating the effects of a new approach to the integration addressing climate change and this the pandemic. The decisions by of offshore generation into the is still, despite the pandemic, the individuals to limit contacts, to European grid will be required, with most urgent existential global crisis practice correct hand-washing and Ireland becoming an exporter of facing humanity. to wear masks show how individual renewable electricity to Europe. choices play a key role in determining It is gratifying to see the continued the outcomes of societal challenges. Therefore, we acknowledge and strides made by EirGrid Group in hugely appreciate the important the area of renewable electricity Tackling climate change will also role that communities play in integration on the power system. require significant behavioural facilitating new and upgraded grid Northern Ireland has already changes. Collaboration and sharing infrastructure. As we work with achieved its target of 40% renewable of accurate information is key, as local communities in providing the electricity by 2020 and Ireland are the actions taken by individuals necessary electricity infrastructure, is on track to achieve its 40% and communities to embrace the we would hope to contribute to renewable electricity target by the challenge and accept the solutions – creating suitable ecosystems end of 2020. Moreover, February over a sustained period. that support the creation of new 2020 was a record-breaking month At best, this process can be businesses and jobs that are built for wind generation, reaching its facilitated by Government and upon the transition to low carbon. highest level ever of 4,249 MW on others, including State companies, 21 February 2020. We recognise the opportunities but local communities and the we have had to work with The threat posed by climate change individuals within them will always local communities in 2020, in is accepted (almost) universally have a critical role to play. areas such as South Armagh, and, notably, at EU level, where a Lanesboro (Co Longford), Leixlip twin-track approach to the economic (Co Kildare) and North Kerry response in the aftermath of the and we would like to extend our COVID-19 pandemic is aligned gratitude to these communities for with the European Green Deal, facilitating the Group. which encompasses a significant commitment to addressing the challenges of climate change. EirGrid plc Annual Report 2020 Page 5 The European Union and the I would also like to thank the Minister I would like to conclude with a quote Government of Ireland have also for the Environment, Climate and from President John F Kennedy that identified the importance of a ‘Just Communication, Eamon Ryan TD could be seen to reflect where we Transition’ and this will ensure that and his officials, who have given are now on the path towards trying communities that may have been us unwavering support throughout to halt and
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