The escalation of conflict in the Middle East has created an energy shock, introducing significant uncertainty into global energy markets. It is directly impacting Irish households and businesses in terms of cost and affordability.
Disruption to shipping routes through the Strait of Hormuz, alongside heightened risk to regional oil and gas infrastructure, has placed upward pressure on wholesale energy prices at a time when the cost and affordability of energy remain a serious challenge. I am working closely with colleagues across Government and the Minister for Enterprise, Tourism and Employment, in particular, on the challenges facing business. The Deputy will be aware of recent emergency measures announced by Government and my Department, including the deferral and removal of charges and levies on fuels to bring immediate relief.
In terms of ongoing support, the Sustainable Energy Authority of Ireland (SEAI) administers a range of grants and supports on behalf of my Department, which help businesses become more energy efficient. Through the ‘Easy Wins’ campaign, Government is emphasising accessible, SME-tailored supports that support businesses to adopt approaches and technologies, many of which are low-cost and rapid-payback, and that businesses can implement immediately to reduce energy demand and exposure to price shocks. Businesses with significant energy bills can avail of no-cost audits to evaluate their energy use and identify opportunities for savings through the Support Scheme for Energy Audits.
These supports and initiatives like the Large Industry Energy Network and the Energy Academy allow businesses to develop strategies and understand innovative approaches to manage and conserve energy without making major investments.
I also want to stress that grant support is available from a range of both rapid approval and tailored support grants.
The two major rapid approval grant schemes operated by the SEAI on behalf of my Department are the Business Energy Upgrades Scheme, and the Non-Domestic Microgeneration Grant. These enable businesses to gain near instantaneous approval for grant supports for solar installations, insulation, energy efficient equipment and a range of other measures that can start paying back very quickly and improve resilience and competitiveness.
For businesses with more bespoke needs, my Department, through the SEAI, also offers tailored support grants - the Excellence in Energy Efficient Design Scheme, the Support Scheme for Renewable Heat and the Community Energy Grant Scheme.
There are also a range of supports available from the Department of Enterprise, Tourism and Employment and Enterprise Ireland, to help businesses reduce energy consumption and operating costs, and information on these is available from the Climate Toolkit 4 Business website.