Transcript generated automatically by AI and may contain errors.
Chapter 1: What are the latest business headlines impacting Ireland's energy sector?
Breakfast Business with Enterprise Ireland on Newstalk.
Good morning and welcome to Breakfast Business and thank you to Shane Beattie. It is Thursday the 23rd of October at 6.31. Coming up on today's show we'll be talking to the owners of Paddybox and we'll be looking at Dublin's economy and what's lacking and all the markets as usual. You can email us business at newstalk.com but first let's have a look at the main business stories.
Mark May in the Irish Sun reports that Ireland is set to do a deal with Spain for a share of its solar power through a giant 1,000 kilometre interconnector. The Minister for Energy, Dara O'Brien, has revealed that the government is set to sign an agreement next year which would see an undersea electricity cable built to Spain. Ireland's electricity system is said to be at a tipping point.
Chapter 2: How is the EU responding to China's rare earth export restrictions?
Wind already supplies a large part of its electricity, but limited connections for electric power into adjoining grids bring supply risk. Minister O'Brien said an interconnector is important for the island nation like Ireland so we can import in future export energy and renewable energy and other energies to our country.
Chapter 3: What changes are being proposed for AIB's hybrid working arrangements?
Reuters reports that the EU's top economic official said that the European Commission was considering countermeasures in response to Chinese curbs on rare earth exports. according to an interview with Handelsblatt.
Chapter 4: What are the implications of AIB's new working principles for employees?
We are examining possible countermeasures. If conditions do not improve, we have not yet named any specific instruments, but the discussion is ongoing. The EU Economy Commissioner Valdis Dombrovkis said, we are considering this with international partners, for example, at G7 finance ministers in Washington.
Ian Curran in the Irish Times reports that the Financial Services Union has opened a ballot for its union membership in AIB on the bank's new hybrid working arrangements. If our members vote yes, the new hybrid working principles will come into effect on January 1st next year, said John O'Connell, the General Secretary.
If FSU members vote not to accept the new principles, the FSU will refer the matter to the Workplace Relations Commission. Over the summer, AIB had informed its 10,000 workers that those eligible for hybrid working would be required to work from the office a minimum of three days each week.