Eamon Ryan (Dublin South, Green Party)

We are talking about electricity. There is no restriction on the entry of the ESB to a market because it is competitive and open. In that market, because it is competitive and we have followed the correct policy approach, we have seen that the large energy use companies which have more detailed and complex contracts have already seen, because of the prices in the gas markets coming down, their prices coming down by some 25% this year. It is different to the public contract and is more complex. It is working in that area. The price drop of a quarter that has occurred on the back of the drop in gas prices is happening. When we are looking at how we make these changes, we recognise where it has already happened and do not introduce flawed changes to the regulatory system that would fundamentally undermine our ability to bring down prices further, particularly in the consumer market.

The ESB could say we should be careful if we are looking for it to subsidise a price reduction across the board. I interrupted Deputy Coveney earlier because I think the ESB and the regulator have gotten a raw deal. They did the work collectively to come up with a mechanism whereby a €300 million rebate from the ESB could reduce electricity prices across the State, for other suppliers and its own customers.

It was an incredibly generous act——

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