Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

The Deputy is right; the energy companies do have a part to play in this. It is welcome that Pinergy has reduced its prices. It was one of the more expensive suppliers in the market in the first instance. There is, of course, an interplay between wholesale prices and retail prices and hedging forward. I understand, as we all do, how the energy market works. It would not be acceptable to see energy companies recording massive profits this year while saying that, for some reason, they cannot reduce their retail prices. I do not buy the argument that, although prices went up within months, they cannot come down for years. If wholesale prices continue to fall, there will come a point at which the Minister, Deputy Ryan, and I will bring the energy companies in to have a conversation about this.

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