Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The original projection was provided by the Department of the Environment, Climate and Communications and was based on the knowledge and information it had with regard to energy costs. It has proven to be a high estimate based on the applications so far, however. That said, as the Deputy knows, we have seen a very significant improvement in wholesale prices. While reductions have not been transmitted to the retail level, those reductions at wholesale level did mean we have had no further increases at retail level, which were projected at a time when the Department of the Environment, Climate and Communications would have done this assessment with regard to the cost of TBESS.