Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

There were 35 energy price increases last year alone. We know the price rises are stark. We can see, for example, that Bord Gáis has increased its price by 82% since October 2020 and its electricity price has gone up by 72%, increasing the average energy bill by €1,313. The increases are massive. We understand the driving forces behind this: the price of fossil fuels, the energy spike in the wholesale market last year, several power plants being out of action due to low wind at the time, and the war in Ukraine, but we must ensure shareholders are not profiting from these difficulties. Many suppliers have stated they will not price gouge, but it is not good enough to take them at their word. The Minister of State says the Government is looking at an analysis of the situation. When will the analysis be completed and when will a decision be taken? Is the Government monitoring the financial statements of energy suppliers at this time and will it monitor them in the future? What does the Minister of State believe is a reasonable profit margin for suppliers during this crisis?

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