Robert Troy (Longford-Westmeath, Fianna Fail)
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I thank Deputy O'Reilly for her proposed amendment. I genuinely and fully understand the spirit in which it is being tabled. We are all at one in this area. We are all aware of the present volatility in electricity, gas and fuel prices. In part, this is being driven by geopolitical factors and the war in Ukraine, which we all heard about earlier during President Zelenskyy's address to the Houses of the Oireachtas. When we hear what the Ukrainian people are dealing with, we are fortunate we are in a position where we have an operating democracy. While we can disagree, we do it respectfully.

The CCPC has publicly confirmed, and representatives from the organisation have appeared before this committee, that it is assessing a significant number of complaints received concerning fuel prices at the pumps, including in the context of the excise rate cut brought into effect on 10 March 2022. As part of this process, the CCPC is engaging with the complainants and the industry and will obtain any additional information required. The CCPC has publicly committed to providing an update on that work in due course. When I met the chair of the body, I asked him to do that as quickly as possible. The CCPC is conducting that work under its existing powers and in response to many complaints in the context of unusual market conditions.

The proposed amendment to section 11 of the Competition and Consumer Protection Act 2014 encompasses several markets, covering electricity, gas and oil. Several relevant State bodies already have responsibilities for these sectors. Electricity and gas markets are interlinked in several ways and come within the scope of the sectoral regulator, which is the Commission for Regulation of Utilities, CRU. The CRU conducts market monitoring and publishes regular reports on conditions in the electricity and gas markets, including information on average prices, switching and renegotiations and changes in the market shares of suppliers and generators. The Department of the Environment, Climate and Communications provides data to the European Commission on consumer prices for the weekly oil bulletin, including home heating oil-gas oil, unleaded 95, and diesel and heavy fuel oil. The Central Statistics Office, CSO’s, monthly consumer price index, CPI, includes the component "Housing, Water, Electricity, Gas & Other Fuels" and is another way in which prices in these markets are tracked. I believe the proposed amendment to section 11 of the 2014 Act is therefore not required as the CCPC’s existing functions and powers under that Act are sufficient to permit it to undertake a study or analysis of any market, which may include energy and fuel markets.

I must also consider how the proposed amendment to section 11 of the 2014 Act could seriously impact on the ability of the CCPC to carry out its primary functions. There is a risk that the proposed amendment could lead to an expectation that the CCPC would become a price monitor or regulator for the energy and fuel sectors. This would be a significant change to the role of the CCPC and would create difficulties in the ability of the CCPC to deliver coherently on its primary functions. Therefore, while I thank the Deputy for her proposed amendment, unfortunately, we are unable to accept it.