IRELAND NEEDS to take serious steps to reduce its dependence on fossil fuel, although there is no immediate risk to energy security or supply, Minister for Energy Eamon Ryan has said.
The Minister was speaking at the launch of a report into the security of Ireland’s access to commercial oil supplies. The report, commissioned by his department, and carried out by energy consultants, found that in “normal” circumstances, there was no risk in terms of availability of commercial oil, or the capability of Ireland’s oil industry to procure it.
However, it suggests that measures could be taken to enhance distribution of oil on the island of Ireland and help safeguard against internal disruptions to supply. It came as Fine Gael released details of the Private Members’ Bill it will table in the Dáil tonight calling on the Government to take action to reduce energy prices.
Fine Gael energy spokesman Simon Coveney said Ireland had the second highest electricity prices in the EU. He said despite the price of oil dropping from $150 a barrel to $40 a barrel, it was not reflected in electricity prices.
“Fine Gael is calling for an ‘extraordinary’ energy price review on the instruction of the Minister. We have deliberately kept party politics out of this motion and are genuinely looking for Government support,” he said.
Responding to the study, Mr Ryan said: “Ireland relies on oil for almost 60 per cent of our energy needs, all of which is imported. We must reduce this level of dependency by developing our indigenous energy resources and reducing demand.”