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Energy is the biggest driver of business costs in Ireland, forum finds

Published 12:08 28 Aug 2026 BST

Updated 12:08 28 Aug 2026 BST

Christian Buschardt
Energy is the biggest driver of business costs in Ireland, forum finds

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What exactly is driving energy costs for Irish businesses

Energy is the single biggest driver of business costs in Ireland, according to the final report of a Government-established advisory forum, which has set out 63 recommendations aimed at boosting competitiveness and cutting costs.

The Cost of Business Advisory Forum found that the Government should consider the feasibility of a new scheme to reduce prices for large, energy-intensive business users, as covered by RTÉ News.

Price transparency and easier switching for non-domestic customers, a familiar complaint for anyone who has tried to move supplier lately, was another point flagged by the report.

The forum brought together business representative bodies, social partners, regulators, State agencies and Government departments.

Members examined the key non-pay cost drivers hitting Irish enterprise: energy, insurance, legal services, water and wastewater, infrastructure and planning, tax administration and regulatory compliance, and banking and financial services.

It called for regulatory reform and the removal of bottlenecks, and highlighted how limited competition in business banking is driving up borrowing costs.

'Now Government needs to deliver'

Minister for Enterprise, Tourism and Employment Peter Burke said the report "represents an important contribution to our understanding of the challenges that face enterprises."

He added that the Government "will give careful consideration to its recommendations and will issue a formal response in due course."

Forum chair Kevin Foley said he hoped the report would serve as "a catalyst for meaningful action to reduce the cost and complexity of doing business in Ireland."

Chartered Accountants Ireland was blunter.

"The recommendations are practical, achievable and deserve prompt implementation," said Cróna Clohisey, its director of members and advocacy.

"Now Government needs to deliver them."

It lands as households feel the same squeeze from a different angle, after Pinergy confirmed a 7.6% electricity price rise and the fiscal watchdog warned that Budget 2027 will be far bigger than announced.