Oireachtas Joint and Select Committees

Wednesday, 11 December 2013

Committee on Transport and Communications: Select Sub-Committee on Transport, Tourism and Sport

Rationale for Sanctioning Energy Price Increases: Discussion with Commission for Energy Regulation

2:40 pm

Mr. Paul McGowan:

In regard to profitability, when we set charges - the only area for which we now determine prices is for the residential gas market - our focus is on the cost of the gas, the cost of the networks and the cost of running an efficient supply business and then a reasonable margin. On whether we look at the profitability, no, we look at the costs underlying the price.

In terms of gas from the EU, I would not be able to give any definitive view on the matter. We would have to consider whether there is available information in terms of how long it will last. Since my time in the energy industry, the availability of gas at a European and global level has continued to go further out.

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