Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The Eurogroup does not deal with proposals relating to the functioning of the energy market. That sits with the Council of Ministers that deals with energy, on which we are represented by the Minister for the Environment, Climate and Communications. Our perspective on those kinds of proposals is that we wanted to ensure they did not create any unknown or new difficulties on top of what we already have. The Deputy made reference to what I said on the issue on 4 May. What has changed since then is that the prices now being experienced in wholesale energy markets have exponentially increased. In response to that, the EU has brought forward a measure that aims to reduce the risks small open economies like Ireland would face. As I have said on a number of occasions, if that EU-wide measure works for us and if it balances off all the competing issues a new taxation measure would have on a sector that matters to the economic security of our country, Ireland will be part of it. That is the stance the Government is taking. We hope that in a few weeks negotiations on this important matter will have concluded.

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