Energy shortages now threaten inward investment, IDA warns

State agency claims that the capacity constraints that currently exist on Ireland’s energy grid are of ‘grave concern’ for future industrial development

Martin Shanahan, the chief executive of IDA Ireland, has told the Business Post that multinational companies could mitigate the risk of Ireland’s unstable energy sector by moving investments elsewhere. Picture: Fergal Phillips

Ireland’s energy supply crisis is beginning to affect the country’s ability to attract foreign direct investment and has the potential to inflict “considerable reputational damage”, IDA Ireland has warned.

In a hard-hitting submission to the Commission for Regulation of Utilities (CRU) seen by the Business Post, the inward investment agency said a failure to anticipate rising demand had created a “very serious” situation where the country is facing rolling blackouts this winter unless urgent action ...