Following the signing of a Memorandum of Understanding on Energy Cooperation with the UK Government in January 2013, a joint programme of work was undertaken to consider how Irish renewable energy resources, onshore and offshore, might be developed to the mutual benefit of both Ireland and the UK.

Economic analysis conducted on the Irish side indicated that, under agreed policy and regulatory conditions, renewable energy trading could deliver significant economic benefits to Ireland and the UK, as well as being attractive to developers. However, given the economic, policy and regulatory complexities involved, and some key decisions that the UK is not yet in a position to take, delivery by 2020 of renewable energy trading is not a realistic proposition.

In the context of a European Internal Energy Market, it would appear that greater trade in energy between Britain and Ireland is likely in the post-2020 scenario.