This Act reforms certain elements of the energy sector in Ireland, also in relation with sustainable development of the energy sector. It provides for, among other things: the renaming of the Commission For Energy Regulation (CER) as the Commission for Regulation of Utilities (CRU); a wider definition of the existing Single Electricity Market (SEM), to facilitate the North/South regulators' integrated Single Electricity Market, or I-SEM, project; enhanced enforcement powers for the Commission for Energy Regulation, including powers to impose administrative sanctions; increases of existing penalty levels on conviction from those already in the 2014 REMIT Statutory Instrument which relate to market abuse offences in the wholesale electricity and gas markets pursuant to the requirements of the EU's REMIT Regulation; amendment of existing legislation (including the Sustainable Energy Act 2002) in respect of appointments to the Board of the Sustainable Energy Authority; increased flexibility in the administration of the Biofuels Obligations Scheme by the National Oil Reserves Agency; publication of an energy strategy statement by the Commission for Energy Regulation. An energy strategy statement shall, among other things, specify the key objectives, outputs and related strategies, including use of resources, of the Commission in relation to the performance of its energy and safety functions and those functions not covered by section 41 of the Water Services (No. 2) Act 2013.
Ireland · 2016-07-30