Ruairi Ó Murchú (Louth, Sinn Fein) | Oireachtas source

We are dealing with another motion about how things are in the real world in the context of the cost of energy. Whether it is individuals or businesses, we all know that we have been inundated in respect of this matter. Some of my colleagues spoke about the weakness of the CRU's remit and powers with regard to standing charges. There are huge anomalies. Many of us will have dealt with issues around communal or district heating systems that are fed by gas and the massive costs that people are facing as a result. I have had many interactions with the Minister of State, the Minister and anyone else who will listen in order to secure a solution for my constituents in Carlinn Hall. There was an anomaly there, like many instances before, to the effect that the CRU is not responsible. While some of this may be rectified, we need to do this as soon as possible and ensure that we have all the tools necessary to deal with the particular issues before our people now.

The Government was resolutely opposed to decoupling gas and electricity prices. There has been a change in European policy. We have seen that around caps and windfall taxes. On some level we might say that we are unsure if the European Union is quite as imaginative or creative as it needs to be.

That is accepting the issues that exist as regards the electricity markets. We are aware of the realities the Minister is dealing with, including hedging. At every point, there is someone in the market seeking to make money. That is capitalism. I suppose that, at some level, it is unfettered, unchecked capitalism. We are all aware of the huge profits made by some of the energy suppliers internationally. We really need to get down to the crux of the matter so we can reduce the costs for the people as best we can. We know what needs to be done for businesses.

I have said before that I am shocked at some level - call it the western world, the European Union or whatever. We all know the crisis we are in because of the Russian invasion of Ukraine and its destabilising impact, particularly in the context of energy supply. However, one of the weapons of hybrid war that Vladimir Putin has is the possibility of considerable contagion and impacts across Europe, including Ireland, because of the high cost of energy. We have to rectify this.

As I have said before, we need to examine the temporary business energy support scheme in the context of mitigating the problems associated with communal heating systems. I will be raising this matter with the Minister for Finance later today. We really need to take action. We are not doing enough and not acting quickly enough.

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