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A man views destroyed Russian tanks outside Bucha this morning

Further Russian missile strikes across Ukraine

Ukraine has said that Russia destroyed homes in the southeast and knocked out power in many areas with a new volley of missiles today, while Moscow said Ukrainian drones had attacked two air bases deep inside Russia hundreds of miles from frontlines.

Ukraine • 05 Dec 22

Payments under the TBESS will be made once the Finance Bill is enacted later in December

Firms can register for energy support scheme tomorrow

The Temporary Business Energy Support Scheme (TBESS), which will assist businesses with their energy costs during the winter months, will open for registrations tomorrow - Saturday 26 November.

Business • 25 Nov 22

Eamon Ryan and Micheál Martin with Xavier Piechacyzk at the signing ceremony in Paris

Celtic Interconnector will lead to lower prices - Ryan

Minister for Climate Eamon Ryan has said that the Celtic Interconnector - a sub-marine power cable connecting Cork to Brittany which will have a capacity of 700 megawatts of electricity - will eventually lead to lower energy prices.

Ireland • 25 Nov 22

The scheme is open to firms of all sizes active in all sectors that are affected by the current crisis in Ukraine, apart from credit and financial institutions

EU approves €1.2 billion energy scheme to support firms

The European Commission has approved the €1.2 billion Temporary Business Energy Support Scheme (TBESS).

Business • 24 Nov 22

The EY index looks the world's top 40 markets on the attractiveness of their renewable energy investment and deployment opportunities

Ireland 13th in Renewable Energy Attractiveness index

The latest EY Renewable Energy Country Attractiveness Index shows that Ireland has slipped one place to stand in 13th position.

Business • 24 Nov 22

Ofgem's announcement means the government action will save typical households around £1,779 a year

UK's Ofgem says price cap will rise to £4,279

British energy regulator Ofgem said its price cap for average household energy bills would rise by about 21% to £4,279 a year from January to the end of March 2023.

Business • 24 Nov 22

The CSO said the price of electricity on the wholesale market is now cheaper than at any time over the past 12 months and is 37% cheaper than October 2021

Wholesale electricity prices down 52% in October - CSO

Wholesale electricity prices fell sharply last month and are back to levels not seen since August of last year, according to the latest Wholesale Price Index from the Central Statistics Office.

Business • 22 Nov 22

The euro zone slipped into a current account deficit this year as soaring energy prices and a weak euro pushed up its import bill

Euro zone current account deficit narrows

The euro zone's current account deficit narrowed in September as the trade deficit halved, data from the European Central Bank showed today.

Business • 22 Nov 22

The Organisation for Economic Cooperation and Development has today urged central banks to keep hiking interest rates

Europe to be hit hardest in global slowdown - OECD

The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown with Europe hit hardest, the OECD said today, urging central banks to keep hiking interest rates.

Business • 22 Nov 22

The analysis found it took time for stations to receive new supplies of fuel taxed at the lower excise rate

Benefit felt from excise cut, just not 'immediately'

A pricing analysis of 50% of the fuel stations in the State shows that cuts in excise duty by the Government last March were passed onto customers, although not always immediately.

Ireland • 22 Nov 22

The cap on market revenues will be set at €120 per MWh for wind and solar (file pic)

Cap on electricity firms' revenue signed off by Cabinet

The Government has agreed to place a cap on all market revenues of non-gas electricity generators.

Politics • 22 Nov 22

The European Union will ban Russian oil product imports, on which it relies heavily for its diesel, by February 5

Europe rushes to fill up on Russian diesel before ban

European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited.

Business • 21 Nov 22

Energy costs followed by supply chain issues and labour shortages were identified as the main challenges facing the sector

Energy costs the main challenge for manufacturing

There has been a marked deterioration in the outlook for the manufacturing sector over the coming months, a major survey of industry leaders conducted on behalf of Ibec concludes.

Business • 21 Nov 22

Austria said the new tax will apply to oil and gas firms' profits this year and next that are 20% above the average of previous years

Austria announces windfall tax on energy companies

Austria's government has today announced plans to introduce a windfall tax on energy companies that will be of up to 40% for oil and gas firms.

Business • 18 Nov 22

At times up to three quarters of Ireland's electricity in October came from wind

Wind was biggest single electricity source in October

High wind for weeks meant 45% of the country's electricity last month came from wind, setting a new record.

Business • 18 Nov 22

Moody's expect wholesale power prices to remain at historically high levels in the medium term in Europe

European energy prices to remain high - Moody's

European power prices are likely to remain high in the medium term, Moody's Investors Service said in a report today, citing technical problems at French nuclear plants, low water levels after droughts and risks to gas supplies.

Business • 16 Nov 22

Battery storage could cut electricity bills by €35m

Operators of battery storage power plants say they could cut up to €35m off energy bills on the island of Ireland this winter if they were allowed to sell electricity onto the wholesale market.

Business • 16 Nov 22

SSE Airtricity provides energy to more than 700,000 homes and businesses across the island of Ireland

SSE Airtricity to forego profits to support customers

SSE Airtricity has confirmed it expects the business to forego all profits this financial year as it provides support for its domestic customers during the cost of living crisis.

Business • 16 Nov 22

The Irish Academy of Engineering says a DECC report contains 'quite unreliable techno-economic analysis' when it comes to hydrogen power

DECC report contains 'unreliable analysis' - Engineers

The Irish Academy of Engineering has said a report commissioned by the Department of the Environment, Climate and Communications into the security of supply of Ireland's energy needs "should not be used to underpin any future energy policy development."

Business • 15 Nov 22

Euro zone trade gap smaller than expected

The euro zone swung to a large trade deficit in September from a small surplus a year earlier due to a surge in the costs of imported energy in the wake of Russia's invasion of Ukraine.

Business • 15 Nov 22

Sefe was formerly known as Gazprom Germania

Germany nationalises gas importer Sefe, formerly Gazpro

Germany will nationalise gas importer Sefe, formerly known as Gazprom Germania, the economy ministry said today, in a move to protect it from bankruptcy and force Russia out of the company.

Business • 14 Nov 22

Record gas prices lift Corrib owner's revenues to €190m

Record European gas prices during the Summer ensured that revenues recorded by Vermilion Energy from the Corrib Gas field for the first nine months of this year have more than doubled to $259.9m Canadian dollars or €190m.

Business • 11 Nov 22

Inflation moves up to 9.2% in October from 8.2% the previous month

Annual rate of inflation up to 9.2% in October

The annual rate of inflation rose to 9.2% in October, new figures from the Central Statistics Office show today.

Business • 10 Nov 22

Commerzbank is in the middle of a €2 billion restructuring programme that has closed hundreds of branches and cut 10,000 jobs

Commerzbank's third quarter profits slump by 52%

Germany's Commerzbank said today its net profit fell by 52% in the third quarter in a better-than-expected outcome helped by higher interest rates, though previously flagged problems at a Polish unit weighed.

Business • 09 Nov 22

Hopes that recent warmer temperatures and falling energy prices will prevent gas rationing in the euro zone this winter helped push up investor morale in November

Eurozone investor morale up for first time since August

Investor morale in the euro zone improved in November, the first time it rose in three months, reflecting hopes that recent warmer temperatures and falling energy prices will prevent gas rationing on the continent this winter, a survey showed today.

Business • 07 Nov 22

Energy Crisis

Further Russian missile strikes across Ukraine

Firms can register for energy support scheme tomorrow

Celtic Interconnector will lead to lower prices - Ryan

EU approves €1.2 billion energy scheme to support firms

Ireland 13th in Renewable Energy Attractiveness index

UK's Ofgem says price cap will rise to £4,279

Wholesale electricity prices down 52% in October - CSO

Euro zone current account deficit narrows

Europe to be hit hardest in global slowdown - OECD

Benefit felt from excise cut, just not 'immediately'

Cap on electricity firms' revenue signed off by Cabinet

Europe rushes to fill up on Russian diesel before ban

Energy costs the main challenge for manufacturing

Austria announces windfall tax on energy companies

Wind was biggest single electricity source in October

European energy prices to remain high - Moody's

Battery storage could cut electricity bills by €35m

SSE Airtricity to forego profits to support customers

DECC report contains 'unreliable analysis' - Engineers

Euro zone trade gap smaller than expected

Germany nationalises gas importer Sefe, formerly Gazpro

Record gas prices lift Corrib owner's revenues to €190m

Annual rate of inflation up to 9.2% in October

Commerzbank's third quarter profits slump by 52%

Eurozone investor morale up for first time since August