IBEC: Energy price rise 'a blow to Ireland’s competitiveness'

The business and employers group IBEC today have expressed concern at today’s Commission for Energy Regulation announcement confirming a gas price rise of 34% and a proposed electricity price increase of 20%.

“While rising international fuel prices are having a negative effect on Ireland’s energy prices, the regulator must ensure that all costs particularly those in national control are minimised.” said IBEC energy executive David Manning.

“Serious questions must be asked of the regulator who has once again failed to deliver competitive prices for consumers. This increase is yet another blow to Ireland’s competitiveness.”

IBEC also called on the Government to publish its national energy policy and to implement substantial measures that will support increased investment in energy efficiency.

IBEC research has estimated that the total energy bill for Irish business has increased dramatically from €3bn in 2003 to €4bn in 2006 - an increase of €1bn or more than 30%.