FDI Business Monitor Q3 2024
High costs are a persistent challenge for the food and drink sector. Food Drink Ireland and Ibec have sharpened our focus on energy costs. Ireland has some of the highest electricity prices in Europe. Policy interventions have the potential to reduce some of the competitive disadvantage that this places on firms.
A new Ibec policy paper highlights four key recommendations, which we believe should be included in the next programme for government:
- Accelerate the roll-out of low-cost renewable generation and storage technologies
- Remove network inefficiencies and develop a smart, dynamic, and connected national grid
- Support the electrification of heat, transport, and industry
- Introduce a strategic annual subvention of Transmission Use of System Charge (TUoS) charges and the Public Service Obligation (PSO) Levy and review the sustainability of the user charge mode.