€110million for electricity networks

LIAM AYLWARD, Fianna Fáil MEP for Ireland East has welcomed the financial allocation of €110 million that is being given from the European Union in support of the construction of new electricity networks between the East Coast of Ireland and Wales.

This new project is part of the €3.5 billion economic stimulus package which was launched by the European Commission in Brussels. This will also help to construct more modern energy networks which will fully protect security of energy supplies into Ireland into the future.

The European Union is also going to financially support new projects in the field of alternative energy, and this includes the wind energy sector. It is estimated that it will save up to €400 million net over the next 30 years.

Liam Aylward MEP, a member of the environment committee of the European Parliament said:

"This interconnector is essential to safeguarding our energy supplies. It will connect our grid to a much larger energy market and it will reduce the cost of electricity. It is estimated that it will save up to €400 million net over the next 30 years.

"The reality is that the EU needs to break down our absolute dependence on Russian energy supplies. We need to develop other energy sectors and protect the future of our energy needs by establishing an important new supply route."

Liam Aylward MEP is the Vice President of the European Parliament climate change committee.