Dáil debates
Wednesday, 18 October 2023
Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Report and Final Stages
8:10 pm
Ossian Smyth (Dún Laoghaire, Green Party) | Oireachtas source
I want to thank the Deputies for their remarks. The legislation includes the notion of ring-fencing. It may not use the word "targeted" but it is required to be targeted in law and that is understood. It is not just understood but it is legally enforceable because it is within the EU law. I have outlined to the Deputies the mechanism by which that works. It will be a scheme drawn up by the CRU, along with the Department of Environment, Climate and Communications, and presented to the Minister, Deputy Eamon Ryan, for his input and approval.
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