Dáil Éireann Debate, Monday - 11 September 2023
156. Deputy Darren O'Rourke asked the Minister for the Environment, Climate and Communications when the legislation for the cap on market revenues will be published; and if he will make a statement on the matter. [38669/23]
View answerThe Energy (Windfall Gains in the Energy Sector)(Cap on Market Revenues) Bill 2023 will implement part of Council Regulation (EU) 2022/1854 of 6 October 2022 on an emergency intervention to address high energy prices, in particular that which requires a cap on market revenues of specific electricity generators.
The Bill, and the EU regulation on which it is based, are designed to provide assistance for final electricity consumers who have experienced exceptionally high energy prices, both as a result of the post-pandemic inflationary pressures and the energy-market implications of the Russian invasion of Ukraine in February 2022.
The Bill and its explanatory memorandum were published on Thursday 31 August by the Bills Office.
