Fine Gael has called for the reform of the Commission for Energy Regulation to tackle the rising cost of power and its adverse effect on Irish business.
The Fine Gael enterprise, trade and employment Phil Hogan TD today has called for the Government to take immediate steps to curtail escalating energy costs for businesses and consumers, which he said are "eroding the competitiveness of Irish companies".
The high level of utility charges in Ireland is acting as a major disincentive for the continued operations of a large number of companies here, he said.
"Instead of assisting, the Government seems content to allow electricity costs continue to spiral upwards, oblivious to the consequences of such increases for hard pressed businesses.
"We are now presented with a farcical situation where we are told that energy costs need to be increased to encourage more competition in the sector.
"The system of regulation of the energy sector needs to be radically reformed. It is high time that the Commission for Energy Regulation was widened to include representatives of business and the Competition Authority.