Sunday, June 23, 2024

Hike of €250,000 in energy costs crippling major Westmeath employer

An increase in the Public Service Obligation (PSO) levy, the subsidy charged to all electricity users to support Irish Government energy policy objectives, is having a major impact on a Westmeath firm which employs in excess of 250 people directly and indirectly.

Lagan Cement of Kinnegad is facing an annual increase of 88.52% in its PSO contributions on top of large increases which were imposed in previous years. For a firm which is competing in an extremely competitive export environment with nations like Spain, Germany, England and the Benelux countries, this is an increase which could have very serious consequences according to Managing Director of the Lagan Cement Group, Jude Lagan.

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