Business in Ireland 2025 – Circular Economy and Resource Use

The enterprise economy requires energy to sustain economic activity, and in Ireland there is a high dependence on imported energy, particularly fossil fuels.

Decreasing energy consumption and shifting away from imported fossil fuels could support a more resilient, sustainable and competitive economy. For enterprises, improved energy efficiency may reduce operating costs, improving competitiveness, while enterprises that depend less on fossil fuels may be less exposed to volatility in energy prices and supply disruption.

From an environmental perspective, lower fossil fuel use could lead to reduced greenhouse gas emissions, helping to contribute to Irelands national and international targets of reducing emissions by 51% by 2030 (compared to 2018 levels) and to achieving climate neutrality by 2050.

In this chapter we will see:

• In 2024, Ireland’s total primary energy requirement remained heavily fossil dependent, with 81% of energy requirement satisfied by fossil fuels.
• Oil accounted for just over three fifths (60%) of Ireland’s fossil fuel energy requirement, followed by natural gas (36%), coal (2%) and peat (1%) in 2024.
• The enterprise economy relies significantly on energy supplies to maintain activity, with transport fuels (mainly for aviation), and natural gas accounting for three quarters (75%) of energy consumed by the enterprise economy in 2023.
• In 2024, Ireland’s energy import dependency was 80%, the fourth highest in the EU, after Malta, Luxembourg and Cyprus, and significantly ahead of the EU average of 57%.
• Imports represented 16% of total final consumption of electricity in 2024, up from 5% in 2022 and 12% in 2023.
• In September 2025 Ireland held 86 days equivalent of EU-based oil stocks, while five member states held at least 100 days of stocks, with Finland (184 days) holding significantly more than other EU member states.

Fossil fuels met 81.3% of Irelands energy requirement in 2024

In 2024, Ireland’s total primary energy requirement remained heavily fossil dependent, with 81.3% of energy requirement satisfied by fossil fuels.

Oil accounted for just over three fifths (60.1%) of Ireland’s fossil fuel energy requirement, followed by natural gas (36.4%), coal (2.4%) and peat (1.1%). See Figure 3.1 and Table 3.1.

Transport fuels and natural gas accounted for three quarters (75%) of energy consumed by the enterprise economy in 2023

Data on energy consumption is reported in the CSO, Business Energy Use releases.

The overall quantity of energy used by Irish resident enterprises, in kilotonnes of oil equivalent (ktoe), fell by 1.9% in 2023 compared with 2022. In 2023, energy consumption by enterprises was 1.6% higher than in 2018, primarily driven by demand from the Transportation & Storage sector.

Across the Industry (including Construction) and Services sectors, in 2023:

• The Transportation & Storage sector accounted for 43.2% (6,033 ktoe) of energy consumed.
• The Electricity, Gas & Steam sector was the next highest with 21.9% of total energy use in 2023, down from 32.4% in 2014. Energy use in the Electricity, Gas & Steam sector fell by 19.8% in 2023, compared with 2022.
• Manufacturing accounted for the third most energy use by sector, using 17.0% of energy consumed by enterprises.
• The Information & Communication sector accounted for 4.7% of energy use. See Figure 3.2 and Table 3.2.

Aviation fuel, natural gas and electricity were the main energy products used by enterprises in 2023, accounting for 39.9%, 29.2% and 14.1% of energy use, respectively. 

Energy consumption from aviation fuel, which is used almost entirely in the Transportation & Storage sector, was 9.1% higher in 2023 compared with 2022, and up 96.9% since 2014. This increase from 2014 to 2023 was likely impacted by a rise of 47.9% in passenger numbers handled at Irish airports over the same period, up from 26.5 million passengers in 2014 to 39.2 million in 2023. The increase in aviation fuel consumption may also be impacted by the activity of Irish airlines abroad. See Figure 3.3 and Table 3.3.

Ireland’s energy import dependency was 79.5% in 2024, the fourth highest in the EU

Import dependency of energy (the ratio between net imports and gross available energy) shows the extent to which a country is dependent on energy imports. In 2024, Ireland’s energy dependency was 79.5%, the fourth highest in the EU, after Malta, Luxembourg and Cyprus, and significantly ahead of the EU average of 57.2%. See Figure 3.4 and Table 3.5.

Ireland's energy import dependency ratio fell from 88.7% in 2015 to 69.0% in 2016, due to a significant increase in primary production of gas (and corresponding fall in imports), before climbing to 79.5% in 2024. See Figure 3.5 and Table 3.5.

In September 2025, the number of days equivalent of EU-based oil stocks held by Ireland was 86 days

Crude oil and petroleum products play an important role in the Irish economy and, given Ireland’s oil import dependency, holding emergency oil stocks is very important in terms of energy security and economic sustainability.

Ireland, like other EU member states is required to maintain minimum emergency stocks of crude oil and petroleum products, equivalent to at least 90 days of average daily net imports.

In September 2025, (the latest period for which data is currently available for all 27 EU member states) the number of days equivalent of EU-based oil stocks held by Ireland was 86 days.

Twenty-two countries held at least 90 days of stocks, while twelve countries held at least 95 days.

Five member states held at least 100 days of stocks with Finland (184 days) holding significantly more than other EU member states. See Figure 3.6 and Table 3.6.

Note: Ireland’s National Oil Reserve Agency (NORA) maintains additional oil stocks in Northern Ireland to meet the 90-day requirement that are not captured in these EU-based stock statistics.

Imports of electricity represented 16% of total electricity consumption in 2024, up from 5% in 2022

Imports of electricity tripled between 2020 and 2024, increasing from 151 ktoe to 453 ktoe. Total final consumption of electricity was up 14.8% over the same period.

As a proportion of total final consumption of electricity, imports represented 16.0% of total consumption in 2024, up from 5.2% in 2022 and 11.8% in 2023. See Figure 3.7 and Table 3.7.