The firm launched its 'Tomorrow's Energy Scenarios' report at its annual conference in Cork on Wednesday, 17 October.
The report identifies four possible scenarios for electricity growth over the coming 22 years to 2040.
The scenarios project everything from a slow change in electricity generation due to poor economic growth, right up to a scenario where a strong growing economy leads to high levels of consumer spending ability and a public desire to reduce greenhouse gas emissions.
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Over the last 24 months, EirGrid has undertaken extensive consultation with a broad range of stakeholders to develop this range of four credible and evidence-based energy scenarios for the future. While only two of the scenarios would see a radical change to the electricity sector, all four scenarios require further investment in the grid.
EirGrid has identified six areas of the country that require investment. These areas are; the Border region, the West and Border region, the Midland, Border and West regions, the Dublin and Mid-East regions, the South-West and South-East regions and the South-East and Mid-East regions.
EirGrid's Annual Conference at Páirc Uí Chaoimh, EirGrid Chief Executive Officer Mark Foley said: "At EirGrid we work to ensure that the energy sector of Ireland is fit for purpose today and into the future. As the Transmission System Operator, we have to make the best possible use of electricity customers’ money and ensure that all investments in the system are truly necessary. By simulating future conditions, this strategy assists us to meet projected demand levels, to meet Government policy objectives, and to ensure a long-term sustainable and competitive energy future for Ireland."
