Economy Minister Dr Caoimhe Archibald has introduced the Renewable Electricity Generation Bill, marking a significant step towards increasing locally produced renewable energy and improving long-term price stability for households and businesses.

The legislation will provide the legal foundation for the Renewable Electricity Price Guarantee (REPG) scheme, which is designed to support greater levels of locally generated renewable electricity while creating long-term certainty for both consumers and investors.

Following the introduction of the Bill, the Minister said: “The introduction of this Bill is central to securing more locally produced renewable energy at a stable price, helping to protect households and businesses from global energy price shocks.

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"As a region with an abundance of renewable energy resources, this Bill sends a strong signal to industry, positioning the north as a competitive and attractive destination for investment."

The proposed legislation will establish the framework for competitive renewable electricity auctions to be introduced at the appropriate stage, with a focus on ensuring local communities benefit from renewable energy developments.

The Minister added: "From the outset, I have been clear that any scheme must deliver for local communities. The Bill allows my department to put in place the necessary regulations so that communities hosting REPG projects will benefit."

The move has also been welcomed by industry representatives, with RenewableNI highlighting the potential impact on energy security and price stability.

RenewableNI Director, Mark Richardson, said: "Generating more electricity from local renewables will provide consumers with long-term protection from the volatility of global energy markets, which drives the price spikes we all see on our bills.

"The Bill will provide the certainty needed by the renewable sector to unlock significant investment, bringing jobs, long-term rates income and community benefits that will be felt across the region, particularly in rural areas."

Further legislation is expected to be introduced once the Bill becomes law, setting out the operational details of how the Renewable Electricity Price Guarantee scheme will function in practice.