IBEC, the group that represents Irish business, today welcomed Minister Pat Rabbitte’s announcement of a €7.5 million capital fund to assist sustainable energy investment during 2012. IBEC said that several energy supply companies in Ireland have recently signed voluntary agreements with the Sustainable Energy Authority with the aim of delivering efficiency savings to consumers in the commercial, community and public sectors.
IBEC Head of Energy and Environment Policy Dr Neil Walker said: "We anticipate that State-funded supports for energy efficiency investment will be progressively replaced by voluntary agreements over the coming years. Irish industry already ranks well in Europe in terms of energy efficiency, and is generally supportive of supplier initiatives. However it is important that commercial energy users are not adversely impacted in terms of relative energy costs as a consequence."