Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I again thank the Deputies. I confirm that the Government is working with the European Commission and member states to consider the policy proposal outlined in its REPowerEU document designed to aid consumers and businesses to deal with the increasing cost of energy. A number of potential measures have been set out by the European Commission under that initiative at European level, including introducing a price cap on the wholesale price of electricity, price limits for trading gas in the EU, and negotiating volume and price with international suppliers. Such interventions, including windfall taxes, may have the potential to reduce energy costs for consumers, but they may also become drivers of cost. There is a plus and a minus to that equation. It is a relatively new issue for which there is not a timetable. The matter is being considered in that context.

I wish to put on the record, in the context of people requesting a windfall tax on energy generators, the ESB through Electric Ireland has 47% of the market, so we have to start on that basis. If people want to put a windfall tax on the ESB in regard to Electric Ireland, they might want to consider that case. That is a substantial implication of what is being requested.

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