Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Correct me if I am wrong, but I understand that the electricity supply companies in Ireland set the price at which they charge electricity to customers based on the wholesale market price of gas in Europe. There is no built-in factor in terms of renewables. An electricity supplier may have some of what is being charged to customers generated by renewables but what is charged is based on the current European market price of gas in Europe. Is that correct?