Paul Donnelly (Dublin West, Sinn Fein) | Oireachtas source

I echo the concerns that have been expressed about the members of the Travelling community and some tenants who may not see this money. I say to Deputy Ó Cathasaigh that the Sinn Féin position is that a price cap, as we have clearly stated, must go hand in hand with a windfall tax on the profits of the energy companies.

While this Bill will be welcomed by many ordinary workers and families who are struggling to keep food on the table and send kids to school and sports etc. and who are trying to make sure they have a warm home, this will be temporary. A cash payment sounds great at the moment but the energy costs will soon outstrip that payment. While the electricity costs emergency benefit scheme is a stopgap on large bills, it will do nothing to stop the rise of energy costs and the crippling rise in the cost of living in general. What will stop the rise for citizens, as I said, is a price cap, as Sinn Féin has called for.

I see and hear weekly that families are struggling to choose between food and heat. Why is the Government not hearing that and doing the right thing? In 2022, when children ask if the heating is on as they go to bed cold, the answer should not be to put a coat on the bed. In fact, what these energy credits do is to allow the cost of energy to rise to an unimaginable amount for most ordinary people. This is, in essence, the Government providing funds to keep energy costs at the status quo. A cap to pre-pandemic prices would mean more money in people's pockets and would alleviate some of the cost-of-living crisis in households across the country.

This initiative by the Government will cost up to €1.21 billion. It will enable prices to rise and profits to rise for providers. The Government is approaching this cost-of-living and energy crisis in a piecemeal way instead of taking the necessary steps to make an impact on people's lives. I will share one statistic that stopped me in my tracks. The ESB saw revenues increase to €3.7 billion, an increase of €1.5 billion on last year. Profits rose to €128 million for the first six months of this year. Where is this money coming from? It is coming from our pockets. It is coming from the pockets of families and individuals. It is coming from businesses. That is where that money is coming from. That needs to stop. I urge the Government to step up and listen to what all of us are hearing in our communities and constituency offices. Workers, families and businesses are all struggling. They need help. They need more help than is being provided at the moment.

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