Micheál Martin (Cork South-Central, Fianna Fail)

The fundamental review of the regulatory framework governing energy prices did not happen. The Deputy knows that as well as I do. It relates to the user pays principles, be that user a commercial entity or a household. On investment in the grid, price review 5 fell on the user of energy. The Minister has established a group to look at the regulatory framework. There will be enormous investment in the grid. In the time ahead, we will need to more than double what was invested over the past five years. If we want to achieve what the Deputy suggests on a sustainable basis, it will require an amendment to the regulatory framework. That is how I see it. That will take some time to bring about, but it is an issue we must deal with because Ireland has high energy prices and is likely to continue to have them, given the level of investment that will have to be made in respect of the grid.

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