Opportunities for all on the path to energy independence

Cork Chamber, the voice of business in Cork, has published its latest Economic Trends, proudly supported by Permanent TSB. Cork Chamber members shared their experiences through the most recent business quarter Q1 2022, and an environment where the case for bringing autonomy to Irish energy production was brought sharply to the fore as one of the knock-on impacts of the Russian invasion and tragic war in Ukraine.

Significantly in this first quarter of 2022, 29% of respondents reported that energy price increases are currently affecting business profitability and growth, 66% of companies surveyed have actively managed energy consumption in a bid to make savings and 82% of respondents agree that government should implement measures to help protect businesses from extreme cost pressures in the short term.

Commenting on the findings, Paula Cogan, President of Cork Chamber stated, “It appears the issue of energy is here to stay in a major way. It has implications of the highest order for business, society, the environment, democracy and Europe. Clean, cost-effective energy for communities, and businesses must move from ambition to reality. The private sector is ready to work with Government to make this happen. We should spare no effort in transforming our energy future while at the same time supporting a valuable and productive sector, climate goals and job creation”.