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

Responsibility for the regulation of the electricity and natural gas market is a matter for the Commission for Energy Regulation, which is an independent statutory regulator. I am very mindful of the importance of well-functioning energy markets for business and domestic consumers. The Government remains firmly committed to increasing competition as the best means of exerting downward pressure on prices in the electricity and gas markets in Ireland. There is competition in both markets, with many players competing in the wholesale and retail segments of the electricity market and in the retail segment of the gas market. New players have moved into the various segments over the years, which is a welcome development, and which has increased competition.

The regulator has issued eight licences in the electricity and gas supply sectors. The competitive market gives consumers considerable flexibility in choosing their energy suppliers. Furthermore, the regulator's simple switching process and the accredited independent price comparison websites, bonkers.ie and uswitch.ie help consumers to identify the electricity and gas products and price plans best suited to them.

Business and domestic consumers can choose from a range of suppliers in electricity and gas. They can avail of the various competitive products and services, including discounts, on offer from a number of supply companies. I urge customers to shop around to enable them obtain the most beneficial package suited to their particular needs.

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