Dáil debates

Wednesday, 18 October 2023

Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Report and Final Stages

 

7:50 pm

Photo of Michael Healy-RaeMichael Healy-Rae (Kerry, Independent) | Oireachtas source

I warmly support this amendment on behalf of the Kerry businesses I deal with daily. They are still struggling to understand why, at a time when wholesale energy prices plummeted, they were left holding enormously high energy bills. The one thing those just trying to survive and small businesses, be they garages, hotels, guest houses, shops or hairdressers, cannot get away from is that they have to have heat, light and power. Whatever they are going to be robbed for it – I will use the word "robbed" – they will have to pay it. Whatever king's ransom they are going to be charged, they will have to pay it. If they do not pay and the light goes out, the door has to close, meaning the business is shut and the jobs are gone. People's lifetimes of work and dreams, the families supporting them and the whole lot may go down the Swanee, all because of people insisting on making a massive profit.

I understand business as well as anybody and know companies have to make a profit – of course they do, and more luck to them – but it should not be a penal profit on the backs of people who saw their energy costs go through the roof. Making those concerned accountable at this late stage and making them publish what they are making, their taxes and net profits is required. Why should they not produce them?

I will never forgive the people who would not do something meaningful. I am not laying this at the Minister of State's feet; I am blaming the companies. I will never forgive them for not passing on immediately or as soon as possible to the hard-pressed consumers, whether businesses or moms and dads trying to keep the heat on at home, have hot water for their children and do the cooking, the savings that reflected the lower wholesale energy costs. Everyone was so adversely affected by this and there was no compassion or understanding. It was a case of the companies saying, "We are going to make our profit and to hell with you, the customer." I really believe the customers will have a sour taste in their mouths for a long time.

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