Oireachtas Joint and Select Committees
Tuesday, 4 October 2022
Joint Oireachtas Committee on Climate Action
Energy Prices: Discussion
Christopher O'Sullivan (Cork South West, Fianna Fail) | Oireachtas source
I ask that Deputy Cowen's request to invite the CEO to appear be noted.
Mr. Fenlon mentioned profits of €357 million for the first six months of 2022. For context, that equates to €2 million per day, or €14 million this week alone, in profits. During the course of this session, lasting a couple of hours, we are probably talking about profits running into the hundreds of thousands of euro. Nevertheless, customers' bills are soaring. Domestic customers have utility bills this month that are skyrocketing; they are doubling and sometimes trebling. Business consumers and customers with Electric Ireland have bills that are increasing threefold or sometimes fourfold. These are unprecedented increases in utility prices. Does Mr. Fenlon accept how difficult it is for these customers to understand or accept that the blow of these prices cannot be cushioned because of technical accounting or because ESB Group is looking at financing future infrastructure?
No comments