Rose Conway-Walsh (Mayo, Sinn Fein) | Oireachtas source

To start with the positives of this legislation, the best thing I can say is that thankfully, despite the name of the Bill, it has nothing to do with turf. The increase in Bord na Móna's borrowing capacity to €650 million to help it fund its expansion into renewable energy is a positive step. Regarding the projects in which Bord na Móna is involved, it must respect the community in Oweninney, keep the promises it made and do everything to alleviate the stress of homeowners who must live with those projects. I ask that the Minister look at that issue because it is not acceptable.

We all want to see the State lead the way in the investment in renewable energy to ensure the State retains as much ownership as possible of our energy production in the future. The transition to renewable energy opens a window of opportunity in this regard. The Bill allows EirGrid to procure 450 MW of backup electricity generation capacity. The need for this has been caused by the abysmal management of electricity infrastructure and planning by successive Governments. The legislation also makes it possible for the PSO levy to move into negative to give a discount on people’s bills. This is certainly very welcome. It is estimated that this will save households about €75 in 2023. However, the Department’s recently produced national energy security framework estimates a 45% to 60% increase in electricity costs above 2021 levels later in the year. That amounts to an increase of between €500 and €700 per household. The impact this is having on small and medium businesses is ferocious. It is straining the viability of many such businesses and further driving inflation. This is the direct result of rising gas prices. The price of gas dictates the price of all electricity prices despite the fact that almost half of the electricity comes from wind. Unless you own a wind turbine, this is bad news. Too many households cannot take much more bad news when it comes to bills.

Mayo, in particular the north of the county, has some of the highest levels of energy poverty in the State. I have raised the need to look at the EU prescribed system for pricing electricity with the Minister and the Taoiseach over the past year. Each time, the issue has been dismissed out of hand. If this was out of a desire to be the best boys in Europe, please note that two weeks ago the President of the European Commission, Ursula von der Leyen, said this market system does not work any more. We must reform it and adapt to the new realities. Thankfully, other governments across the EU have not been as passive and have pushed for reform within the European Commission. We should be leading the way on this, as I have said many times.

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