IBEC, the group that represents Irish business, today welcomed the publication of a review of Irish energy policy by the International Energy Agency (IEA) and said the Government must now take on board the recommendations and implement them prudently and effectively.
IBEC’s Head of Environment and Energy Policy Dr Neil Walker said: "IBEC supports the transition towards a low-carbon economy, but we need an integrated energy and climate change policy. Delays to critical electricity network projects are costing consumers €30 million a year in constraint costs. The Government must provide leadership by developing national planning guidelines for projects of this type to ensure public support and to avoid unnecessary delays and associated costs.
"IBEC agrees with the IEA that the way in which carbon tax revenue is used in meeting economic and environmental objectives should be transparent and open to scrutiny. Some revenue from taxing carbon should be ring-fenced and recycled back to business through energy initiatives that address emission reduction objectives, while at the same time boosting competitiveness."