The Government is discussing contingency plans with industry to organise energy rationing if the Ukraine war leads to an interruption in supplies of Russian oil and gas into European markets.
The talks, acknowledged by three people briefed on the situation, have centred on concerns about the stability of winter supplies this year if there is no end to the Russian invasion and western sanctions against the Kremlin escalate.
“It’s very clear that it’s a sensitive situation at the moment because of the war,” said an informed source.
“There are meetings taking place. There are contingency plans that have always been there. They’re being dusted down to see if they need to be updated.”
One question under discussion is the prospect of keeping the coal-fired power station at Moneypoint open for up to three years beyond its scheduled 2025 closure while waiting for new gas-fired electricity generation to come on stream.
Such a move would undercut efforts to curtail carbon emissions but is increasingly seen as a step that may be necessary to boost reserve generation capacity.
The talks come as Russian president Vladimir Putin raised the stakes in the confrontation by signing a decree to halt supply contracts with “unfriendly counties” if they do not pay in roubles from Friday. Big European buyers such as Germany have been refusing to pay in roubles for fear of weakening the impact of sanctions and strengthening the Russian currency.
Ireland imports some 75 per cent of its gas, with the bulk of those supplies coming from Norway via the British network and only a small proportion originating in Russia.
Although senior figures with knowledge of the talks said that factor provides a good degree of protection to energy supplies in the short term, there was concern even before the Putin decree of Thursday that the situation could spiral beyond control if the war is not settled.
Last-resort steps
People familiar with the talks in Dublin said the invasion has led senior officials to discuss last-resort steps with industry to decide on the allocation of electricity and gas supplies if the energy flow is interrupted or pricing reaches unsustainable levels.
Although hospitals and schools would be a top priority, one business figure said the question of maintaining food supply-chain connectivity had emerged as a big issue because of pressures on the international food supply chain.
A Government energy security review, due this summer, is likely to list the possibility of State-owned liquefied natural gas (LNG) storage being developed to facilitate the delivery of reserve supplies, it is understood.
Global leaders want to increase LNG imports from the US into Europe to offset demand for Russian energy. But it remains unclear whether Ireland could acquire temporary seaborne storage before building any infrastructure.
