Irish electricity: market opening in name alone

The electricity market opening mechanism introduced in Ireland is based on supplementing independent power producer (IPP) capacity with released capacity from monopoly ESB (virtual IPP), so that new entrants have the volumes to supply customers. Initially, enough IPP and discounted VIPP capacity was available for new entrants, but there is not yet enough for full market opening in 2005.

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Irish energy: retail competition depends on wholesale opening

The Economic and Social Research Institute (ESRI) argues that the Irish market is too small to cater for new entrants' needs. This stems from insufficient independent power production (IPP) and a lack of capacity created through virtual-IPP auctions. As Ireland needs a competitive wholesale environment to stimulate retail competition, ESRI has identified the right problem.

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Irish energy: wind in its sails?

On the back of a recent expansion of wind power in the Irish Republic, the government has announced an increased renewables target of 15% of total generated output by 2010. The increase is supported by the recently-announced renewable energy feed-in tariff (REFIT) program, but this method of financial support raises more questions than answers over the economics of Irish green power.

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Irish pork scare: raises questions about food sourcing

Last week saw more than 20 countries clear their shelves of Irish pork after 80 to 200 times the legal level of dioxin was found in nine pig farms. This food scare has heightened consumer concerns over how products are sourced, placing additional pressure on the food industry to develop a transparent labeling system which allows consumers to implicitly trust the goods that they buy.

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Irish power market development continues, despite lack of ESB break up

With relatively robust regulatory polices and demand growth, the Irish power market has future developmental prospects not enjoyed by a number of markets elsewhere in Europe. Recent developments further highlight how the Irish power market remains a market to watch, although the decision not to break up former power monopolist ESB will curtail the development of true competitive intensity.

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Irish power: further push towards open, all-island market

Ireland has finally decided to do away with its cumbersome system of virtual power plant auctions and revenue regulation, by requiring the state-owned incumbent, ESB, to sell off many of its generation assets. Furthermore, Irish regulators have announced that no one market participant will be allowed to own over 40% of Irish generation capacity.

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Julius Baer and Bank of America Merrill Lynch: shaking up the world order of global wealth managers?

Julius Baer has agreed to acquire Merrill Lynch's non-US wealth management operations from Bank of America. The deal is sizable, seeing Julius Baer boost AUM by around 40%, and could see it edge into the top 10 largest wealth managers globally. Despite the divestment, Bank of America is set to remain as the third largest wealth manager in the world, thanks to its significant US operations.

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Kerry Group: going for gold

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Kerry: riding the convenience wave

Despite the impact of unfavorable exchange rates and high energy costs, global food producer Kerry Group has announced another profits increase for the first half of 2005, citing the UK's unrelenting appetite for prepared meals as a key driving factor. A continued focus on healthy and convenient products will enable Kerry to prevail over tough operating conditions going forward.

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KFC: cutting waste through new packaging

Fast food chain KFC has committed to serving several of its most popular meals in paper wrapping rather than cardboard boxes in its UK and Ireland stores, which it says will reduce the amount of packing used by 1,400 tonnes. The strategy will save on costs but also boost the company's eco-credentials, which is continuing to be a key battleground in 2009.

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