Frank Feighan (Sligo-Leitrim, Fine Gael) | Oireachtas source

Deputy Ó Murchú talked about the CRU needing the power to take action and I will convey those views to the Minister. He went on to state we need a solution for Carlinn Hall and I thank both him and Deputy O’Rourke for raising that issue. Deputy O'Rourke raised the issue of the Tallaght data centre and the provision of town gas. Unfortunately, gas prices will continue to increase and we hope the Government can bring in some measures that will reduce the serious impact that will have.

The position of successive Governments for almost 20 years has been that competitive energy markets result in greater choice for consumers and businesses in terms of suppliers, products and prices and support competition to drive down prices. The CRU ended its regulation of retail prices in the electricity market in 2011 and in the gas market in 2014. Given prices are no longer regulated, they are all set by suppliers as an entirely commercial and operational matter. Each company has a different approach to pricing decisions over time and in accordance with factors such as the company's overall strategic direction and the development of its cost base.

However, as I said, all EU member states have been affected by recent high global energy prices to various degrees. Recent developments, as in what happened today, have underpinned the importance of moving away from our reliance on imported gas and instead accelerating developments of renewable energy generation across the country.

A central part of the solution lies with cost effective energy efficiency measures and accelerated deployment of renewable energy sources. It is of utmost importance to proceed swiftly with the treatment of the Fit for 55 package to achieve climate neutrality by 2050. A well-managed energy transition is not the cause, but part of the solution to keep prices affordable and predictable.

I thank both Deputies for raising this issue.

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