Barry Cowen (Laois-Offaly, Fianna Fail) | Oireachtas source

I thank the Minister of State. I do not, nor does anybody else, expect the Minister, Deputy Ryan, to be able to change international gas prices. We have a right to expect, however, a competitive, efficient and well-served wholesale market. I contend that successive failures by the Department, EirGrid and the CRU have resulted in the present situation where we have too little generation capacity to meet our needs. The ESB, because of that failure, is now the dominant entity and market power which has shown itself only too willing to use that power to extract super-normal profits from Irish consumers.

We heard ten, 12 or 14 years ago a Financial Regulator tell the Government and State that the banks were well-capitalised and that there was nothing to fear or worry about and that it was removed from the workings of Government in its duty to enact Government policy. Here we have a Minister within a Government which sees this crisis for what it is head-on, knows the impact and the effect it is having, knows the failures that there have been to date to allow a situation to evolve, and then says that it absolves itself from any remedies that may be necessary. I have highlighted issues which are serious, worrying and need to be addressed. I would expect that the Minister with responsibility in this Government on behalf of us all would ensure that the ESB, EirGrid and the CRU live up to the expectations and policy commitments that are contained in the programme for Government on one side, and the responsibilities of the Department on the other, to ensure that the best interests of the public are adhered to.

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