Jennifer Whitmore (Wicklow, Social Democrats) | Oireachtas source

The Minister of State's response to the Social Democrats proposal for a targeted price cap does not make sense. He says that he is reluctant to do this because the profits of energy companies could skyrocket. Those profits are skyrocketing now, and we are seeing people suffer. We are seeing businesses go under, parents who cannot feed their children and elderly people who are suffering from hypothermia because they are afraid or unable to put on their heating.

The reason the Social Democrats proposed the price caps in the manner outlined is that they would be applied in conjunction with a windfall tax. We must have those two elements in place. We must limit the prices energy companies charge consumers. That would give clarity and certainty and remove the fear people have about the bills coming through their letterboxes every few months. At the same time, we must have caps on the profits. We must have those two elements in play. I am surprised the Government does not seem to understand that. There is not one big solution to this crisis. A number of measures must be put in place to fix and help people deal with it.

The non-gas electricity cap to which the Minister of State referred is to apply from December 2022 until June 2023. By the time it is in place, we will probably be past June. In addition, it does not deal with the huge profits made by wind companies from January to November of last year.

How will the Minister of State deal with those profits? Will he allow wind companies to make those huge profits on the backs of households throughout the country? That is unacceptable. The Minister, Deputy Eamon Ryan, stated that we are in unprecedented times and that energy is being used as a weapon of war. While Putin may have started that race, the energy companies have picked up the baton. They are now using the war as an obscene way of making profits off the backs of vulnerable people.

It is often said that in the midst of every crisis lies a great opportunity. Those energy companies have identified that opportunity and they are maxing out on it at the expense of our most vulnerable people. Companies will do what companies do. Their objective is to make money for their shareholders. It is the responsibility of the Minister of State and the Government to protect vulnerable people and to regulate what those companies can do to ensure that our most vulnerable people are not exposed to their profiteering. The Government is failing in that. The Government was behind the curve and behind the game in every element of this. The Minister of State talked about the windfall tax. Those measures were meant to be in place last December but they are not. The windfall tax on electricity generators will only be in place for a measly six months. The Minister of State talked about including financially vulnerable people and consumers in the Government's definition of vulnerable when it comes to disconnections. That was meant to be in place for winter 2022. It still has not been done.

Every single measure the Government brings in is delayed. Every week that those measures and bringing in those policy changes are delayed means more and more people are being put under pressure, more businesses are going under, and more families are stressed and unable to feed their children. That is not acceptable. We expect the Government to plan, to future-proof and be prepared, and not deal with this in a reactive manner. The Government needs to put people and our small businesses first and make sure that corporations are not the ones wagging its tail.

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