Michael McGrath (Cork South Central, Fianna Fail)
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Without having the full details of what every country is doing, I can tell the Deputy that the broad thrust of discussion at EU level has been about withdrawing those types of supports and arrangements. We have seen that in the UK, although it is not part of the European Union. That has also been the talk among many of my colleagues around the table at EU level. Policymakers at EU level are encouraging governments to begin withdrawing those supports, rather than stepping in and putting in place market caps or price caps.

The Deputy spoke about problems with the electricity credits. It was an imperfect intervention but at least we know what that measure cost. I did not know the cost of intervening with a market price cap at the peak of the cycle.