This is one of the key findings of a new electricity benchmarking study from Forfas, Ireland’s national policy and advisory board for enterprise and technology.

The research looks at what the country needs to do to achieve a more efficient, secure and environmentally sustainable electricity supply, which is vital to the economic future of Ireland.

Forfas chief executive Martin Cronin stressed the importance of securing a sustainable supply.

“Electricity is a key input to all services and manufacturing enterprises,” he said. “The cost of electricity in Ireland is now second highest in Europe and this is impacting on the ability of firms to compete in international markets.”

In terms of renewables, Ireland has enjoyed “significant developments” over the last two years, the study concluded.

About 1,000MW of wind power are due to be on the grid by the end of this year.

However, although the country’s renewable targets are likely to be met, Ireland has a relatively low share of renewables in its electricity generation mix, the report found.

Its 4.8% total compares to Denmark on 28%, Finland on 14.3%, and the Netherlands on 9.1%.

Ben Meggeson

Action inspires action. Stay ahead of the curve with sustainability and energy newsletters from edie