Eirgrid in Christmas warning, Euronext Dublin prepares IPO move and recognising unions

Business Today: the best news, analysis and comment from The Irish Times business desk

The Republic faces a high risk of power cuts during the build-up to Christmas and over the new year, when electricity demand will be highest, a report from national grid operator Eirgrid shows. Potential record demand and declining or unreliable supplies have left the Republic facing periods where it may not have enough electricity, says the State company’s winter Outlook 2022/2023. Barry O’Halloran reports.

UrbanVolt is borrowing €30 million to fund further expansion in Ireland and the European Union, bringing the total cash that the green energy supplier has raised this year to €66 million. Barry O’Halloran has the details.

Euronext Dublin, operator of the Irish stock market, which largely missed out on a stream of flotations globally in the bull run in the past decade that culminated in record $601.2 billion (€609.6 billion) of money raised on IPOs last year, is hoping to be in a better position when the IPO markets do reopen, writes Joe Brennan in Agenda.

John Tuohy, the co-founder and former chief executive of courier company Parcel Motel, has launched a new click-and-collect locker service for pharmacies which will allow patients to pick up their prescriptions without having to queue. Ian Curran reports.


Cork-based data security company Getvisibility is set to ramp up its global expansion as it opens a new office in San Francisco and plans to expand employee numbers. Ciara O’Brien reports.

Another week, another working group reporting to the Government with proposals to set hearts a-flutter among those of a left-leaning disposition. These days, that seems to be pretty much most people. This time, it was the turn of the High Level Working Group on Collective Bargaining and Industrial Relations. Its proposals this week were far less heavily remarked upon, but are just as radical in the realm of how things are done in Ireland, writes Mark Paul in Caveat.

As many employers see it, the benefits of remote and hybrid working are firmly stacked in favour of employees and, with no possibility of things returning to the way they were, some businesses have already begun reconsidering their staffing options. As one employer put it: “Why should I keep paying top dollar to people I never see and who resist coming into the office when the same work can be done for less elsewhere?” Olive Keogh reports.

This winter we face an urgent need to reduce our electricity demand because of the shortage of gas and its exceptionally high price. Ireland has concentrated on developing renewable wind energy, along with gas-fired generation for when the wind does not blow, writes John FitzGerald in his weekly column. Coal and peat have been gradually downgraded because they are much worse for global warming. So we are very dependent on gas for our electricity.

Although sterling has rallied since the British government’s mini-budget announcement, the bond market remains disturbed. All eyes are now turning to the ECB and how it will react to the turbulence. The effect on interest rates will play out in the coming weeks, but could they peak sooner than expected? To discuss the impact of the UK’s mini-budget on the global economy, Ciarán Hancock is joined by Joe Gill of Goodbody Stockbrokers on our Inside Business podcast. Cliff Taylor also takes a look at what it means from an Irish perspective. We also examine the latest bumper exchequer returns, and whether they may help offset what looks like an impending consumer-recession.

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