Oireachtas Joint and Select Committees

Tuesday, 18 April 2023

Joint Oireachtas Committee on Climate Action

Pre-Legislative Scrutiny of the General Scheme of the Energy (Windfall Gains in the Energy Sector) Bill 2023

Mr. Michael Kelly:

I will answer questions on the electricity market complexity. The Deputy asked about the ability to identify clearly the revenue that generators will be making in the market. One of the things we heard a couple of times this morning was that the legislation looks complex when, in fact, through our development and design of the legislation, we were looking to make it in some ways robust and simple by picking up definitions from the existing market. One will see definitions in there about quantities and prices that we are using that are already codified in the electricity market. By using those defined terms, it allows us to be clear with the people who will be affected about how much they will be liable for. The indexes we are using are already published and understood so, to that extent, we are hoping that the initial liability will be clearer.