Thomas Gould (Cork North Central, Sinn Fein) | Oireachtas source

The Consumer Rights Bill 2022 is an important step forward in advancing consumer rights in this State. It is good to see the pulling together of consumer rights which is long overdue. While many of the protections in this Bill already exist in EU, it is important to see them enshrined in Irish law as well. Granting the CCPC powers to enforce regulations is one of the most vital aspects of this Bill and one that will finally see an end to the disadvantage experienced by businesses which operate legally and within the regulations.

We need to very clear that Covid-19 has had a considerable and in some cases devastating impact on businesses in this State. The closure of the hospitality sector, loss of revenue and various lockdown restrictions have had effects right across Irish businesses. I hope this Bill, along with other State supports, will help to bring back some of these businesses and relieve the burden on them.

When I was looking at this Bill and speaking to constituents, what instantly came to mind was the need to be very realistic about the protections that are most important to consumers right now, protections that will shield against the rising cost of living and the cost-of-living crisis we are in. People are choosing between heating and food and yet, energy companies are hiking up prices while simultaneously making considerable profits.

The ESB made a record €679 million profit in 2021 and in March it announced plans to increase residential electricity prices by 23.4% and gas prices by 24.8%, effective from 1 May. SSE Airtricity is supposedly a 100%-renewable energy provider but it charges a carbon tax despite wind energy not being a fossil fuel. It has increased its expected share dividend because of an increase in expected profits. In April, SSE Airtricity announced it would increase its standard household gas and electricity unit price by 24% and 32%, respectively. How can this company justify these increases when wind remains free? PrepayPower announced a net profit of €14.2 million last year. The increase that it imposed on the average consumer amounted to €374 per year.

Ministers might tell consumers to shop around. The Minister of State can shop around all he wants but there is no use in doing so when energy providers are increasing their costs. Some 68% of people in the latest RedC poll said that the quality of their lives had been reduced by the cost-of-living crisis. What will happen next year when we find out the profits of these large companies have increased, on the back of consumers having to cut down on food shopping and on what they enjoy?

Some form of consumer protection has to be considered for these people who are buying essential goods and to prevent large-scale profiteering by electricity and gas companies. Considerable profits may have to take a hit but it is far better than having ordinary people wearing jumpers and being unable to afford childcare, to put their kids into camps, to go to events or to have a good, decent quality of life. Consumers need to be protected and the good businesses out there that are operating properly need to have a level playing field.

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