M&C Energy Group, Ireland's largest independent energy consultancy, today warned of major hikes in energy prices for the large energy users operating in the deregulated energy market.

The Waterford-based company, one of the major energy buyers in Ireland, has identified contract renewals up 45% as the suppliers pass on the huge cost of energy production.

M&C Energy Group's Energy Analyst, Sandra Quinn explains: "ESB's application to the CER for 30% increases has been making the headlines, but it is the larger energy users who will see their bills almost double.

"As purchases of energy for some of Ireland's largest businesses, M&C Energy Group has been advised to expect climbs of up to 30% for domestic and small to medium sized business, while large businesses will see their bills rise by 45% by the end of the year.

"While the independent Commission for Energy Regulation (CER) will try and negotiate down, energy companies have a clear case due to the high cost of generating fuels such as gas, coal and oil on the wholesale markets.

According to M&C Energy Group businesses need to protect themselves against these hikes by buying ahead, negotiating fixed contracts, reducing consumption and of course making sure they are paying for what they are using.

Sandra Quinn concludes: "There is no doubt that the energy market is spiralling but there are steps that can be taken. It is the businesses that rein in their energy costs that will have the competitive advantage."

/ends

For further comment please contact Judith O'Leary on 01383 432608.

NOTE TO EDITORS

Established in 1976, M&C Energy Group is the world's largest independent energy consultant purchasing in excess of £1 billion of gas and electricity for customers in the U.K. and Europe.

Employing over 300 staff, including analysts and energy engineers, the company specialises in the improvement of efficiency in both consumption and pricing for a significant number of the world's biggest water, telecoms and energy users. Operating across Europe, Asia and America, M&C Energy Group has unrivalled expertise in monopolised, semi-liberalised and fully deregulated markets.

Advising its clients on electricity, gas, fuel, oil, telecoms, energy services, water and wastewater and environmental service, M&C Energy Group is completely independent of all suppliers.

In the last year, M&C Energy Group has saved its clients 15,518 tonnes of carbon, which equates to £1,515,000 worth of energy costs. To the year 2012 M&C Energy Group will reduce its clients' carbon emissions by a total of 117,300 tonnes, which equates to 40% of the annual output of a 40MW power station.

Reductions in excess of £2,500,000 on water sewage and effluent charges have also been achieved.

For further information log on to www.mcenergygroup.com