Energy could cost €2.6bn per year

The Irish Exporters’ Association has estimated Ireland’s overall energy bill could increase by €2.6 billion per year if Ireland is to meet targets set out by the EU Commission for cutting greenhouse gas emissions and increasing renewable energy production.

The IEA added that meeting the targets will add to the cost base of the Irish manufacturing sector and many companies already exposed to competition from outside of the EU, will not survive. However, the Commission for Energy Regulation countered it was too early to make such estimates on costs.