IBEC - Newsroom

Retail Ireland, the IBEC group that represents the Irish retail sector, today responded to the report issued today by the National Competitiveness Council on energy prices.

Director of Retail Ireland Torlach Denihan said: "It is alarming that Ireland has the fourth highest electricity prices for business in the EU, that prices here are 35.5% more than the Eurozone average, and are 28% more than in the UK. This is a significant burden on retailers and makes it more expensive to run a retail business here than in Northern Ireland, Britain, Spain or elsewhere. If it is more expensive to run a retail business here, it means higher prices for the public.

"Retailers have cut their prices and we want Government to do its bit to by cutting State-controlled costs on the retail sector, such as electricity. If this is not done it will be impossible for the sector to fight back against cross-border shopping and the impact of the recession."