Bertie Ahern (Dublin Central, Fianna Fail)

Throughout Europe and internationally prices are going up dramatically. We, like most countries, import most of our gas from the one location in Russia. We do not have a North Sea gas resource to protect us from price rises. The same applies to industry in every country. We cannot have a regulator who keeps the situation neutral when times are good and ask him or her to stand down an increase when there is a difficulty and a real price increase. Under the legislation the responsibilities of the CER include market stability, encouraging new market entrants, ensuring tariffs are cost-effective, guarding against discrimination and exercising its functions in a way that protects the interests of the final customers of gas and electricity. A large part of the increase in electricity is because of the gas price. Gas and oil are internationally traded commodities and every business understands that.

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