Rising cost of energy posing threat to viability of businesses, says Ibec

Image: Damien Storan/PA Image: Damien Storan/PA RISING ENERGY COSTS are posing a threat to businesses and may impact on their viability, lobby group Ibec has warned.

“For companies that are coming off kind of contracted rates and looking to the prices for the year ahead, they’re looking at about four to five times an increase of what they have been paying,” said O’Brien. In particular, O’Brien highlighted engineering firms and building material manufacturing as being particularly vulnerable due to their high energy usage and low margins.He said that it may not make sense for some firms to run at full production levels and to instead have work hours reduced or shifts cut.

It comes as Ibec launched their pre-budget submission this morning, which totals in at just under €2 billion in spending and tax proposals. “This must be supported by a significant immediate package of emergency energy supports under the new EU State Aid framework along with a package of Budget Day incentives for energy efficiency and low carbon investment in 2023.”

Time to nationalise all electricity and gas! And do it quick! 1kwh of gas was trading at €1000 today, 2 years ago it’s was €56! Crazy

So just businessess then great

Businesses are going to go to the wall thanks to fffgg.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Energy costs a big threat to many firms, Ibec warnsIbec's director of lobbying and influence, Fergal O'Brien, said some businesses will see their energy bills rise this year by between four and five times the level they paid last year. Hmmm It's a manufactured crisis to bring in corporate colonial control. All planned of course
Source: RTEbusiness - 🏆 16. / 61 Read more »

Zaporizhzhia nuclear plant: Ukraine and Russia trade accusations of shellingAuthorities distribute iodine tablets to residents near Zaporizhzhia nuclear power plant in case of exposure More propaganda from the poodle press. Why would Russia attack its own people
Source: IrishTimes - 🏆 3. / 98 Read more »

Vintners plead for tax cuts on alcohol amid cost of living crisisThe Vintners' Federation of Ireland has urged the government to cut alcohol duties by 15% in response to skyrocketing energy prices and the increased cost of... Like they did for the hotels? How's that going? Dont bow down to the greedy publicans No.
Source: NewstalkFM - 🏆 19. / 55 Read more »

Germany wants power-market overhaul to dampen soaring pricesEconomy minister proposes tackling increasing energy costs by reforming power markets so prices no longer coupled to most expensive supplier
Source: IrishTimesBiz - 🏆 6. / 77 Read more »