A new report has highlighted the significant economic impact of Ireland's growing datacentre industry, with the facilities' energy demand contributing to increased household bills and draining €715m (£620m) from the economy.
The report, commissioned by Friends of the Earth, found that the cumulative average increase in household electricity bills between 2015 and 2023 was €360. It also revealed that datacentres accounted for 22% of Ireland's electricity usage last year.
The report suggests that the trend of datacentres consuming large amounts of electricity could be replicated across Europe, as the industry continues to expand. This raises concerns about the potential economic and environmental implications for European economies.
The report's findings have sparked calls for greater regulation and transparency in the datacentre industry, with a focus on reducing energy consumption and mitigating the impact on household bills.
The Bank of England has not commented directly on the report, but the findings may be of interest to UK households and businesses considering investments in the datacentre sector.
What this means for UK households is that, while the direct impact of Irish datacentres on UK electricity bills is limited, the trend of increasing energy demand by datacentres could influence UK energy policy and have implications for UK businesses and investors.