Eamon Ryan (Dublin Bay South, Green Party) | Oireachtas source

In line with the European regulation, it is the Government's intention to use the revenues to support Irish consumers in what is still an environment of very high energy prices. This is a difficult time for many households and businesses. Tara Mines, which we were talking about earlier on, is a perfect example of how challenging things are. The legislation is designed in a such a way as to provide further help to Irish households and businesses, along with the other measures we have introduced.

On the technical aspects of the market cap legislation, these reflect the very complex nature of the market itself. It is not just about wind farms and sales of power directed to the household. There are also complex market arrangements. Suppliers might be purchasing power from a wind farm. In such a case, determining where the supernormal profit accrues in the end requires detailed accounting analysis. The very nature of this legislation, in its interaction with tax consolidation law and company law, means that we have to get it right. That is why we felt it better to deliver two separate pieces of legislation, one to be enacted this term and one to be published this term, in order to best set out that technical work.

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