Dáil Éireann Debate, Tuesday - 23 May 2023
162. Deputy Eoin Ó Broin asked the Minister for the Environment, Climate and Communications the action, if any, the Government intends to take to decrease energy prices for struggling consumers, given that similar action taken by governments across Europe has resulted in savings; and if he will make a statement on the matter. [24111/23]
View answerThe Government recognises the significant impact the rise in energy prices is having across Ireland and has taken decisive action to support families and businesses to pay their bills.
The Government is continuing to monitor the effect of existing supports, completing the implementation of the Energy Poverty Action Plan, and exploring further measures to support consumers in the context of Budget 2024. The Government is also committed to a long-term strategy of protecting Irish consumers from volatility in international energy markets and reducing prices by investing in renewable energy and energy efficiency, and through deeper integration with the European energy market.
Budget 2023 introduced €2.5 billion in once-off measures to support households with the rising cost of living. This included an Electricity Cost Emergency Benefit Scheme through which €600 was credited to each domestic electricity account, in three payments of €200 between November 2022 and April 2023. The cost of this assistance was over €1.2 billion, bringing the total amount paid to directly assist consumers with their electricity bills to €1.5 billion. In February, the Government brought forward further measures to help social protection recipients from April to July and extended the reduced VAT rate on electricity and gas bills until October 2023.
Regulation of retail energy markets is solely a matter for the Commission for Regulation of Utilities (CRU) since the enactment of the Electricity Regulation Act 1999 and subsequent legislation.
