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

I wholeheartedly welcome the fact that the Government finally agreed to address the situation whereby gas sets the overall electricity prices, including renewable electricity. Capping renewables at €120 per MWh is welcome but when we consider that the average wholesale price of electricity in August was €388 - it has gone down to €137 per MWh for October - we see how artificially high prices have been for such a long time. The question is: why have people not seen the reduction reflected in their bills? I first raised the need for this action last November when households and businesses were facing into a winter where energy prices were very high. I am glad the EU and the Government have seen reason but it should never have taken this long. When will the measure come into effect? Can the Taoiseach commit to keeping it in place for as long as gas prices remain high?

The capping of the price of non-gas electricity, on which huge profits have already been made this year, is a step in the right direction. Will the Government also bring forward a windfall tax on the excess profits electricity companies made in 2022?

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