Richard Bruton (Dublin Bay North, Fine Gael) | Oireachtas source

The position is that the Commission for Regulation of Utilities, CRU, has examined margins and it is satisfied that the market is competitive. Two reports have been published and we can provide the Deputy with copies. It is also worth saying that it is a wholesale market and there is a volatility with world prices. World fuel prices will obviously impact on the market. The savings in capacity were based on having the interconnection. Two small grids would have to have more standby capacity. Money is saved by integrating the grids but the price increases are due to wholesale price increases of fuels so the issues are not related.

The Deputy is concerned about the margins. The CRU, which is independent in this, has done reports and is satisfied in this regard. I understand that if comparisons are made between prices here and elsewhere, there will be a difference but, in the view of the CRU, this is not due to excessive profit taking.