Ibec calls for energy costs supports as UN warns of more wartime food price hikes

'Firms and jobs will be lost if Government doesn’t do more to address this energy crisis' 

Ibec chief executive Danny McCoy: 'Ireland is acutely exposed to these cost increases and energy supply challenges because of our increasing dependence on imported gas, our low levels of electricity interconnection, and a surge in electricity demand projected for this decade.'

Ibec has called on the Government to intervene to secure energy supplies and safeguard against the "exceptional" price hikes facing firms with new supports.          

In a letter to Taoiseach Micheál Martin, chief executive of the business group Danny McCoy outlined measures it says will be needed in the next three months to help business to navigate the additional huge price pressures amid the Ukraine war.