Marian Harkin (Sligo-Leitrim, Independent) | Oireachtas source

We are all aware that the wholesale price of gas has rocketed. It was 4.5% this week. With the fear that Russia will not reopen the Nord Stream pipeline, we know that the price is only going to go one way. Given that approximately 50% of our electricity is generated from gas-fired power stations, that means that for everybody the price of electricity is escalating. The issue of the impact on householders has already been raised here this morning. I fully support that.

I want to raise with the Tánaiste this the impact on small retailers, especially small independent retailers. They are not at the moment and will not be able to pay their electricity bills. I have spoken to many of them. They are genuinely concerned that they will not be able to continue trading. Honestly, I believe this is not a case of somebody crying wolf when retailers tell us that 18 months ago they were paying 12 cent per unit and that they are now paying almost 30 cent. They just cannot take that hit. One of them said to me that politicians do not realise how much at risk that small retailers are. They were including me in that comment. Another spoke of the frightening time that they are facing. The Tánaiste and I both know that it is not just electricity costs that have escalated, but costs for packaging and wages. They are not complaining about that, but they have to bear those costs. The problem is that whatever working capital or contingency they have, they have eaten into it. Many are at the end of their rope as the cost of doing business, as one of them said to me, has just gone out the door. Many smaller stores are now trading at below break even.

These are resilient people. They have survived. They want to acknowledge the assistance that they got from the Government during Covid-19, but they need temporary support. They need some stability so that they can plan for at least the next six months and can talk to their banks. Some of the proposals they have include some kind of price freeze on electricity or a rebate system when energy costs as a percentage of turnover increase over predetermined thresholds. They want a recognition that many energy providers are making huge profits. The Government needs to look at some intervention here. A temporary suspension of commercial rates would help. They are short-term measures. They have long-term proposals as well. I would like to hear if the Tánaiste can give them any respite for the serious few months that lie ahead.

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