Higher energy costs are here for the ‘longer haul’, says Taoiseach

Taoiseach Micheál Martin has played down fears of a shortage of fuel this winter, but said that concern about energy security and costs is something that will be an issue beyond the short-term.

He said that there was “no need” for panic buying, but higher energy costs were here for the “longer haul”.

Asked by RTÉ’s Claire Byrne about reports that Mr Martin had warned Fianna Fáil TDs last night about winter fuel shortages, Mr Martin said:

“I never said that. That is not the phrase I used at all. I simply used the phrase energy security is an issue the Government is focused on and also that will mean we have to look at demand reduction strategies as well.”

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“I am not responsible for the headline,” Mr Martin said. “That phrase was not one I used at all. I simply said that energy security is something we have to focus on and prepare for over the next winter period.”

Asked if he was confident there is a 90-day supply in Ireland, Mr Martin said: “Yes. There is no need for that [panic buying]. The very important point is this. This is a longer haul than people might have anticipated because of the war in Ukraine.”

The Taoiseach and senior Ministers have been warning in recent days about the impact of the war not just on prices but on the resources available to the Government for future spending decisions, as the costs of accommodating and helping tens of thousands of refugees become clearer.

Mr Martin also warned that food security is also an issue for the Government.

“I made that point last evening at the parliamentary party that the knock on from war in terms of grain, in terms of food issues, nutrition, there could be further problems in developing countries which creates further migratory flows and further potential conflict in developing countries.”

Mr Martin stressed that the Government was now resigned to dealing with the cost of living issue as a long-term challenge.

‘Longer time frame’

“We have to look at this over the twelve month perspective. It is not something we can respond to on a week to week basis. It needs a longer time frame. So in that context, not just in Ireland but right across Europe, energy security and security of supply is a key issue,” he said.

Mr Martin said around €2 billion had already been committed in trying to alleviate the impact of inflation and that the Government would continue to target resources towards those people and sectors which were hardest hit.

He added one clear policy shift emerging from the war in Ukraine was new urgency around the need to accelerate the provision of renewable energy.

He said while Ireland was not as dependent on Russian gas and oil as others, “nonetheless we do have to adapt” and he said the Carbon Tax, which has been criticised for increasing fuel costs, was to allow the country to reorient away from a reliance on fossil fuels.