Michael Moynihan (Cork North West, Fianna Fail) | Oireachtas source

As this is the first time I face the Minister across the Chamber in my new role as spokesperson I hope we can work in a constructive fashion. There is no doubt the issue of energy and energy prices is a matter of concern for many people. An issue that arose recently was the granting of a price increase to Electric Ireland by the Commission for Energy Regulation and later it emerged that its half-yearly profit was of the order of €230 million heading for €0.5 billion in a full year. The hard-pressed householder and business people note that the Regulator has granted a price increase to the ESB while it is making huge profits. I am aware that the statutory body, the Commission for Energy Regulation, makes periodic reports. Can the Minister comment on those reports internally and put pressure on the Commission for Energy Regulation to ensure price increases are not granted? The public perception is that price increases are granted when they are not necessary in view of the fact the companies concerned are making huge profits.

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