Preparing For "The New Energy Era" In The North

"The gas dispute between Russia and Ukraine has highlighted the vulnerability of Western economies when external fuel supplies are cut off," she said. "In such circumstances, it is those who are poorest that suffer the most.

"We must ensure that energy, the life blood of modern economies, continues to flow. I have put in place a full review of Northern Ireland's energy policy to ensure that government is equipped to respond to a rapidly changing landscape. Northern Ireland is also working with its UK partners and regional neighbours to enhance its security of supply.

"We are blessed with an abundance of energy sources. These include wind, wave and tidal sources as well as opportunities for the agricultural sector to contribute to renewable energy, for example from bioenergy."

While the Minister said that she believes that the development of new technologies will be key to unlocking a diverse energy supply, she also emphasised that she recognises that there are challenges still to be tackled with proven technologies.

"In order for Northern Ireland to benefit from a substantial increase in wind powered generation, our electricity grid will need a major overhaul," she continued. "This will require significant investment.

"Meanwhile, our focus must also be on the development of new technologies to unlock a diverse energy supply."

The Minister also took the opportunity to emphasise the need for a robust market infrastructure and refered to the first year of the cross border Single Electricity Market.

"We are entering a new energy era, an era that will bring as many opportunities as it does challenges. If we are to combat climate change and achieve a sustainable energy future for our children, it will be important to work not only in partnership with our regional neighbours but with those across Europe," she concluded.