Pressure is growing on the Government to help households and businesses facing high energy costs, as Tánaiste Simon Harris warned that escalating conflict in Iran could have “significant consequences”. Senior ministers will hold briefings on Ireland’s energy security on Wednesday amid the oil supply and price shock stemming from the war in Iran. Meanwhile the Department of Finance's chief economist has said that "all roads lead to higher inflation and weaker growth". Energy suppliesMr Harris said Ireland is in a “reasonably good position” for energy supplies, with the National Oil Reserves Agency (NORA) having around 90 days’ worth of reserves. “I think, whatever way you look at it, all roads lead to higher inflation and weaker growth,” Mr McCarthy said.

Source: Irish Examiner April 07, 2026 19:18 UTC