Oireachtas Joint and Select Committees
Tuesday, 9 May 2023
Joint Oireachtas Committee on Climate Action
Engagement with the Commission for Regulation of Utilities
Mr. Jim Gannon:
As to whether we are regulated to intervene if someone does not pass on any of the benefits accrued recently, there are two aspects. We have seen two suppliers providing some benefit back to consumers in recent months. Separately, the inframarginal rent, IMR, capping legislation is going through its more detailed phases. Through that, we will get an insight into whether suppliers passed on some of the surplus revenue to their customers. We will require them to prove that they did this and the extent to which it was done such that those who have passed on some of that surplus revenue will not be required to hand it back. Part of that analysis will be understanding who has passed on some of that benefit to consumers and the extent to which they have done so.
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