Michael Collins (Cork South West, Independent) | Oireachtas source

I thank Sinn Féin for putting forward this motion. Petrol and diesel prices are at an all-time high, which is increasing the cost of transport for businesses and individuals. This can have a knock-on effect on the wider economy because businesses may pass on the increased costs to consumers. This will result in higher prices for goods and services.

Despite the widespread impact of higher energy costs, the Government has been slow to respond. The refusal to reduce and cap electricity prices has been criticised by many, and the Government has taken no action. The Government's reluctance to introduce a windfall tax has also protected the excessive profits of energy companies. Last autumn, my colleagues and I in the Rural Independent Group moved a motion seeking to have a windfall or excess profits tax placed on all energy companies, yet the Government has been sleepwalking on the issue. Budget 2023, as the motion points out, did not provide any certainty for rising energy costs and bills, leaving households and businesses with no meaningful relief or support. This has been a significant source of frustration for many, who feel that the Government is not doing enough to address the issue. The energy crisis is affecting thousands of families. It is a crisis that should not exist, and it is one that we must address as a matter of urgency. The exorbitant prices being charged for electricity and home heating oil are resulting in a severe crisis that is leaving people without the basic necessities of life.

The Government must put pressure on the energy companies to do the right thing and pass on the savings to households. It is not enough to express disquiet; we need direct intervention to ensure that the residential sector benefits from falling wholesale costs. The Government must take action. That is the main point we have been making for months in the Dáil. It seems the Government is afraid to take on the energy companies. It is pandering to them, as if they have some kind of power or hold over it. As far as I know, the State has a shareholding in one of the companies. The companies make millions of euro in profits. I have no issue with any company making a profit because that is what a company should be doing, but to do so while its loyal, faithful customers are suffering is astonishing. The Government is leaving it to happen. People are coming to me with bills of between €400 and €800 that they cannot pay They are astonished, worried and upset. They do not believe the Government is there to help. Once again, those in Fianna Fáil, Fine Gael and the Green Party have turned their backs on the people instead of protecting them.

See this speech in context