ONE HUNDRED YEARS ago, the state build Ardnacrusha hydroelectric power plant on the Shannon River, which could power nearly all the electricity in the new Free State. Now Ardnacrusha only supplies 2% of our electricity, and we have become dependent on imported oil and gas, which we thought was dependable.

But yet again a war has been started by some macho male leader and Irish businesses and families end up paying higher prices. There was Iraq war I, Iraq war II, the full invasion of Ukraine, and now the attack on Iran. Different leaders, different decades, but the same high prices in Ireland.

Since March, Ireland has moved to ease pressure on households and businesses, including through reductions in excise duties on petrol and diesel. Meanwhile, the EU has announced plans to accelerate the electrification of the various sectors of the European economy.

Even if a stable ceasefire is agreed, prices will not revert to pre-war levels. The Iranian strikes on Qatar’s Ras Laffan complex are going to remove about 3% of all liquefied natural gas traded globally for up to 3-5 years. Unable to make deliveries due to damage, Qatar has already declared that some of its most important contracts cannot be fulfilled. As such, higher gas prices are here to stay.

As global gas and........

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