The energy bill faced by Irish business has soared by €1 billion in just three years, it was claimed today.
New research from the Irish Business and Employers Confederation (Ibec) found the energy costs of Irish businesses have increased from €3 billion in 2003 to €4 billion in 2006 - an rise of over 30 per cent.
Ibec attributed this an increase of 50 per cent in gas prices, a rise in electricity costs of 25 per cent and diesel oil soaring by 40 per cent since 2003.
Kathryn Raleigh from ICT Ireland, the association that represents the high tech employers within Ibec, said domestic service providers could pass the costs on to customers but that was not an option for companies which trade internationally.
"The cost of doing business has increased dramatically in the last few years and will be made worse by recent energy price hikes. The Government has failed to come forward with any meaningful plan to deal with the problem," she said.
"Industry has been waiting for years for the government to publish a comprehensive energy strategy, and is still waiting," Ms Raleigh said.
PA