Energy Minister, Pat Rabbitte, today welcomed the findings of a leading report into the global energy market and in particular its emphasis on energy efficiency. He said this strongly endorses Ireland's push for increasing levels of efficiency in homes, businesses and the public sector.

Minister Rabbitte welcomed Dr Fatih Birol, Chief Economist with the International Energy Agency (IEA), to Dublin to launch the IEA’s World Energy Outlook, 2012.

Commenting on the Report the Minister said: "Every year, the IEA publishes the most important report on the energy calendar. This year, the World Energy Outlook identifies how the global energy map is changing. Developments in oil and gas production, combined with a rapid growth in wind and hydro are having a profound effect on international energy markets. Ireland is well placed to take advantage of these trends to reduce our dependence on imported fossil fuels through widespread exploitation of our renewable and efficiency resources."

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In a wide-ranging address to the Institute for International and European Affairs in Dublin, Dr Birol outlined some of the key findings of the report.

He said: "Profound changes are taking place in global energy markets, and while energy independence is pursued, the necessity for inter-connectedness has never been greater. In this context, energy efficiency can play a key role in minimising exposure to supply and pricing fluctuations as well as delaying the onset of climate warming, but policymakers need to do more. Our World Energy Outlook shows that they need to explore new avenues and mechanisms to realise the latent efficiencies that current technologies offer."

(CD/GK)