Pat Rabbitte (Dublin South West, Labour) | Oireachtas source

I have no statutory function in the setting of gas or electricity prices, whether in the regulated or non-regulated parts of these markets. Responsibility for the regulation of the retail electricity market is a matter for the Commission for Energy Regulation, CER, which is an independent statutory body. Since 4 April 2011 prices in the electricity retail market have been fully deregulated and business and domestic customers can as a result avail of competitive offerings from a number of electricity supply companies. Price setting by electricity suppliers is a commercial and operational matter for the companies operating in the retail market, including Electric Ireland which is ESB’s electricity supply business.

The Government is most concerned at the impact of higher electricity prices on residential and commercial consumers. Ireland is at the mercy of international fossil fuel prices which dictate the retail price of electricity.

There are a number of avenues open to consumers to try to mitigate rising electricity prices, and measures are also in place to assist them. Accordingly, consumers can shop around to get the best possible price and service deal from suppliers bearing in mind that other suppliers can and do offer competitive prices and products. Consumers can also take steps to improve the efficiency of their electricity usage which delivers demonstrable savings. The CER is also working with energy suppliers to ensure that vulnerable customers are protected through, inter alia, the installation of pay as you go meters.

As regards keeping electricity prices under review, the CER publishes a report every quarter on information on the retail markets in electricity and gas. It includes metrics on market share, switching rates, the rollout of pay as you go meters, debt flagging and customer disconnections. The report can be found on the CER website.

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