Oireachtas Joint and Select Committees

Wednesday, 16 November 2022

Joint Oireachtas Committee on Transport, Tourism and Sport

Update on Issues in Aviation Sector: Engagement with Mr. Willie Walsh

Photo of Ruairi Ó MurchúRuairi Ó Murchú (Louth, Sinn Fein) | Oireachtas source

I apologise as I will probably repeat a lot of what has been said already, some of which I have been in the room for but most of which I have not.

Mr. Walsh has provided a general idea of modelling where the industry will be. We all know we are in an energy crisis meets cost-of-living crisis. Mr. Walsh has already talked about some of the specific issues with refineries, yada-yada-yada. Has any modelling taken into account that we could be heading into an absolute disaster? I hope it does not happen. I refer to electricity markets outside of this. People at a European and domestic levels, including in the Government, were slow to consider the decoupling of gas prices etc. We are now in the age of caps and windfall taxes and trying to catch the market at every point along the supply change where somebody is trying to make money, which is the nature of business. One has to take hedging into account also. I have two questions. What modelling is involved in that, and what moves are being made to regulate the price, as best as can be done?

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