 Thank you very much. It's my pleasure to welcome you all here this morning on my own behalf and on behalf of the government particularly I should say those of you who have come from abroad, I want to welcome you to Dublin, I'll welcome you to Ireland and to this historic as Pat has said mansion house round room in the mansion house and looks a little different to what it looked 95 or 96 years ago when those events were taking place that Pat referred to and you know You can never I suppose come into this room without wondering what the founding fathers have been called them would have thought of the challenges and the opportunities that we have the that we have the honor of being in a position to debate here today and Try to point the way to the future and but I suppose to some extent We're also many people in this room our trailblazers also in this critical area of energy policy and the energy agenda and For that reason I want to once again Thank you all for being here Thank the IEA and the ESB for inviting me to be here this morning to make some relatively short contribution at the outset and actually to say to the IEA in the first instance that As many of you will know as an organization they are always absolutely at the cutting edge of Debate and deliberation and analysis of a whole range of public policy issues that face this country and indeed the European Union and the wider world and the the rigor that they always bring to the analysis that they put together and researchers and Reports and the debates. I think that that's borne out again by what you've achieved in terms of putting together this Important event this morning. So Brendan Halligan and Tom Arnold. I want to thank you for that. Also the ESB and Cosponsors are aware of this Conference the seminar today. ESB is enormously successful Company organization of which we are rightly very proud and I want to thank Pat O'Doherty, Alvina Graham I think is here certainly is due to be here the chair of the ESB and good to have you here today and to see you participating yes as a utility and as an important Company commercial organization in the public sector but also being prepared to demonstrate a willingness to take part in the debate to To sponsor a debate like this to recognize as Pat did and touched on in his opening remarks the change that's taking place the rapid change that's taking place and To facilitate that in a debate such as we're having this morning The title why everything you thought you knew about energy is wrong is I have to say the cause of some trepidation to me as a minister seeking to finalize White paper statement on our energy policy and on where our policy ought to go and what did they make the directions of our policy needs to be And but there is no harm being a lot of talk about disruption in the context of the energy Sector As a whole but there's no harm in having some disruption in the way we debate these issues as well and Understanding that we're in a period of enormous and rapid change and as somebody once said about another problem When they were trying to write it up. I think was it about the Irish? I'd probably get it wrong. So I wouldn't hazard it But you know every time you think you have an answer to the question the Irish chain the change they change the question or something like that and it's you know You often feel that when you're addressing and wrestling with Policy questions in this field that questions actually change halfway through your attempt to reach an answer But again, I think that's okay because that is we have to acknowledge and this conference this morning is part of Acknowledging how rapidly these issues and how rapidly these challenges and opportunities are changing and for me as a minister In this role for something over a year at this at this time that what strikes me as most Extraordinary is the rapidity of that change even in a period of months, you know even in a period of months that particularly the potential that's there from the technological advances that the sheer Speed and pace of change in technology the opportunity that that affords to individuals consumers citizens producers Generators distributors to change the way we do things in fact the necessity to change it the necessity to change it and I think that we can even go so far as to Interrogate the notion of the consumer because I think we're not going to be and we don't want our citizens just to be passive consumers of energy The classic switching on and off of the light and that's where their role finishes that has got to change And I think it's not just necessary as it were rhetorically to say that that it's important that citizens should be at the heart of the debate because Clearly that's so but I think the the changes that are taking place in the way business is done in the energy sector will mean that the that the individual citizen can be the as it were the can change and can be at the very center of The make it that the choices that he or she needs to make the control and management of the consumption and use of energy And that is a really really exciting opportunity Not just for us as citizens of Ireland and of Europe the world But also for business and those businesses and I see many of them here Represented this morning that are out there ahead of that particular element of what's changing I think they are the ones that would be the most successful They are the ones that governments and others will want to talk to they are the ones that the citizens will want to engage with and we want to actually Purchase their goods and services. So that's a big opportunity for business. It's a great opportunity some some discussion about this last night for interaction here today between government policy makers academics Experts and business and that interaction has to be at the heart of what we do And I say that you know as a minister as a member of this government that we want to talk to you want to talk to business We're good to see you here We want to see you recognizing the investment opportunity that there is in Ireland Recognize the openness that we have here to innovation in particular to innovation in this technological dimension of Energy production distribution and consumption. So it is a truly very very exciting opportunity I think for all of us and it's I want to thank you as well for 40 me the opportunity to be here I want again particularly to welcome our distinguished guest Vice-president chef Kovic and to thank him for his inspirational address really a tour to force This morning after the commitment that he has Demonstrated to delivering EU energy union and it is a commitment I state again and I said to the commissioner yesterday And I know that these you can talk to will have done as well that commitment to energy union is one that Ireland emphatically shares we emphatically share it and we want to see it progressing we I want to say that I support the Ambition that was clear from your address this morning and what you told me yesterday in terms of the timelines They will be very exacting timelines and there's no question of that But they you're right to set those ambitious ambitious targets. We spoke yesterday about Ireland's position and Ireland's as it were how we how we fit into that picture if I can put it that way how we want to be part of the the the progress of energy union and we also spoke about Ireland's particular position geographically which is manifest but also a relative Peripherality in terms of in terms of what needs to what we need to achieve here so that we can be full Participants in energy union so that we can really fully participate in the opportunities that will arise and that manifestly are arising from from the forward progress of energy union and some of the detail that we discussed and you touched on again this morning the Complexities there in relation to market design all of the questions then you to bring forward in relation to governance and legislative measures And so on we support you in that we want to Join in that and help and help progress it and I think you know The solidarity that's necessary in Europe has probably never been more evident Than it has been in recent days and weeks for other reasons And I think we all appreciate how critical it is that we work together in Europe on an issue like this An incredibly important issue for all of our citizens and you will have our support in that regard At the purpose of today's event as you know is to bring together national and international thinkers and doers policymakers Stakeholders and industry figures to discuss these quite dramatic changes that are underway in the energy sector We have seen monumental events including the shale gas revolution in the United States the gas crisis in Ukraine that was referred to and Huge reductions in global petroleum extraction investment following the collapse essentially collapse in oil prices These have significantly altered the policy context in ways that could not have been predicted even a short few years ago Less visible perhaps, but as I've said potentially more far-reaching developments are underway with the convergence of energy and ICT and Of course all of these developments are accompanied by an urgent and accelerating drive for sustainability These changes present major challenges Obviously, but they also herald significant opportunities for citizens consumers and policymakers and for utilities and businesses Vice-president Shevkovich Graphically brought to life the emerging EU policy context of energy union And it is an as I've said a concept and an objective that Ireland fully supports And I believe it will have a positive impact on by far the biggest single issue facing humanity today, which is global warming the evidence of the impact of climate change is literally undeniable and The response to this global crisis demands a generous display of international solidarity Now I hope and believe that this solidarity will be evident in abundance in Paris in December There at the conference of the parties to the United Nations framework convention on climate change COP 21 Politicians and policy makers from around the globe will converge at what is a critical moment in the history of our planet The importance of securing a global legally binding agreement on climate change at this meeting I think cannot be overstated Delegates must set the world on a more sustainable low-carbon pathway consistent with the goal of keeping average global temperature rise to below two degrees as A member of the European Union Ireland is fully committed to playing its part in reaching an agreement and I believe that the EU INDCs will be a key contribution to global aggregate ambition. I fully believe that energy union as It is implemented in the coming years will drive the realization of these commitments Which will be made by EU member states in Paris We reached political agreement on headline targets for 2030 at the October 2014 European Council Europe committed to reducing its greenhouse gas emissions by 40 percent To increase the 20 percent the proportion of energy derived from renewables and to increase Europe's energy efficiency by 27 percent Our vision in Ireland is equally clear and equally ambitious We will transform Ireland's energy production and consumption patterns So that by 2050 our system is largely decarbonized and Our first target as you know is to meet 16 percent of our energy use from renewables by 2020 We are currently at something of the order of 8 percent and this is steadily on the rise And I am confident that said to the commissioner yesterday with effort and vigilance that we will meet this commitment Ireland's energy transition will not be painless and will not be without obstacle But it is a transition that we have to make to safeguard our environment for future generations From a policy perspective the process of expediting that transition will be led by a new energy policy framework Which I will publish as I've said later this year Informed by detailed consultation with an extremely wide range of stakeholders the new framework will give direction Give certainty and stability as we make the transition to a decarbonized future Our efforts will depend on the availability of capital of course and other resources Some of our decisions will involve cost But will also involve and entail great benefits So we will be presented with many difficult choices But we have no choice But to meet these challenges for the sake of our children our grandchildren and indeed this precious planet Once the policy framework is in place white paper the real work begins Or perhaps I should be more accurate the real work will continue and intensify because it is already underway Many people in this room are already engaged in the transition The energy policy framework will support and underpin those efforts It will give new players and existing market participants the certainty and confidence they need to invest To reduce costs to improve energy security and to innovate in the technologies that will reduce our carbon footprint This in turn will promote national and regional economic development, which is of course of critical importance to all of our citizens EY have reported that the energy sector contributed 5.4 billion euro to the all-island economy as recently as 2013 In 2014 the sustainable energy authority of Ireland outlined how Irish green energy companies have been exporting into the US and the EU markets for years The report also noted that as much as one and a half billion euro is being invested in sustainable energy technologies and services in Ireland each year supporting thousands of jobs Government policy commitments are assisting expansion in the sector for instance almost 17 million euro was added to my department's multi-annual ocean energy development budget between 2013 and 2016 bringing the total cumulative funding to over 26 million euro Our move to increasingly greener energy sources and products will create further business opportunities I have no doubt for Irish companies here and exporting and many more sustainable jobs as a consequence. I Think we need to be equally innovative in the way that we engage with citizens and and communities The extensive consultation that I have conducted over the last year Has taught me that the energy transition can only be successfully achieved if it has the support of all its stakeholders our transition will depend on human goodwill effort and ingenuity That requires citizens to become engaged in and inspired by the momentous and ambitious project of decarbonization They must be encouraged to take an active role in the energy transition Starting with people's own homes. We must also find ways of giving our citizens ongoing opportunities to input into policy development and implementation Above all we have to listen to our citizens more actively and to demonstrate by our actions That we understand their needs and have respect for their concerns In conclusion Ladies and gentlemen, I'd like to thank you again for inviting me to speak and to participate in this important summit It is as I think we will all agree a very timely and critically important initiative I hope that it will help us broaden the debate about energy policy Which needs to move to the center of public and political discourse If we are to achieve the power shift Referred to in the title of this event All of us who are involved in energy policy know that it is difficult If not impossible to predict the future with any confidence But we do know that we need to move quickly Towards a decarbonized future with an energy policy that places care for our people and our planet at its heart Thank you very much