Eamon Ryan (Dublin South, Green Party)

Our capacity to deliver a secure energy supply at competitive cost is critical for Ireland's ability to attract and retain foreign direct investment. It is also critical for all sectors of indigenous Irish enterprise competing in global markets. Increasing the contribution of indigenous renewable energy will improve security of supply by substituting for expensive and volatile fossil fuel imports. It will also enhance environmental sustainability by reducing CO2 and other emissions. Renewable energy contributes, therefore, to the creation of a long-term, secure and stable energy investment framework and to competitive energy supply.

The exponential rise in gas, oil and coal prices on global markets during the past 12 months is the key factor in increased energy costs for Irish business and consumers. In an era of high fossil fuel prices, the competitiveness of renewable energy technologies will continue to grow demonstrably. Ireland is a price taker in terms of fossil fuels. Indigenous renewable energy sources will progressively reduce our dependence on fossil fuels. Some renewable technologies are already at or near market competitiveness and their relative position will only be improved in the face of increasingly expensive fossil fuel prices.

Some international experts are of the view that increasing renewable energy usage also helps reduce overall prices by reducing the fuel risk exposure of companies to volatile fossil fuel price rises. We are investing significantly in national energy infrastructure, which is critical for social, economic and regional development. IBEC has endorsed the priority need for investment in transmission and distribution networks, power generation capacity and electricity interconnection. This investment will underpin economic competitiveness and enable the integration of renewable energy on to the grid.

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