Oireachtas Joint and Select Committees

Tuesday, 15 February 2022

Joint Oireachtas Committee on Climate Action

Commission for Regulation of Utilities Strategic Plan: Discussion

Photo of Darren O'RourkeDarren O'Rourke (Meath East, Sinn Fein) | Oireachtas source

Regarding profitability and protecting customers from charges when suppliers are making extraordinary profits, the witnesses say there is no evidence to support that and that from time to time, there is a market monitoring system. Could they give me some information about how the CRU assesses that? I know there have been public charges. Are investigations ongoing? If so, at what stage are they? How does the CRU monitor the profit margins of individual companies? What incentives outside of the price comparators does the CRU have to encourage operators to pass on cheaper costs? Does the CRU have a role in advising the Government on policies in the context of the cost of living crisis? Has the CRU considered price caps or windfall taxes either on generators or suppliers?

In terms of the CRU's remit, it seems there is a constant trade-off or tension between sustainability, security and price. Proposals from the CRU, including in the past number of months, concern what the energy system in Ireland might look like in terms of renewables compared to gas and other fuels. What models is the CRU using to assess that? Are its decisions in line with current Government policy?

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