Mr. Conor Minogue:

I absolutely agree with the Deputy on the role renewables can play in improving competitiveness of supply. IBEC has repeatedly drawn attention to the high electricity prices we experience in Ireland. As the Deputy said, they are some of the highest in the EU. Given that the EU itself is uncompetitive globally, that is a major concern.

We published a paper last November setting out our analysis of what are the main cost drivers for electricity and where we see the solutions over the short, medium and long term. There are four areas which we believe need attention. The first is renewables, which play a suppressing role on the price, as we have seen over periods of high cost during the electricity and affordability crisis. The second is investment in the grid and the role an efficient grid has in reducing some of those costs that end up on the user's bill. The third area is the fixed-cost component of the bill, which accounts for between one third and half of a user's bill, particularly for the business user. That is more in the control of Government policy and it is an area that needs review, particularly for the period past 2030. The energy affordability task force that has been set up has huge potential and we ask that it examine, in a comprehensive and holistic way, what is driving those high electricity prices in Ireland.