Employers' federation IBEC has urged the Government to push for an all-island energy market in a bid to reduce prices.
The organisation warned that companies were being put off locating in Ireland due to high prices. Brendan Butler, IBEC enterprise director, claimed energy costs were seriously out of line with competing countries and affecting the State's ability to attract foreign direct investment.
A survey by IBEC and Amarach Consulting revealed worries about energy supply and cost were so high that one in six firms in Ireland were considering relocating to an area with lower costs.
Mr Butler called on the Minister for the Environment, Dick Roche, to focus on an all-island approach to energy provision as a means of bringing prices down. "The Minister should review the current model of market liberalisation, which has added significant costs to Irish business," he said.
IBEC said the Government had to adopt a clear vision for the future development of the energy market through suitable policies and by taking steps to ensure competition.
"National competitiveness and attainment of security of energy supply must be at the heart of any future energy strategy," he said.
IBEC has also called for more efficient investment in electricity generation, capacity, and the continued development of indigenous natural gas resources.
The business group said cleaner technologies should be encouraged for the benefit of business consumers.