Micheál Martin (Cork South-Central, Fianna Fail)

What is important in terms of the energy companies is the more fundamental issue facing the market, which is the methodology by which the European Single Market works in terms of how prices are determined for gas and the margin of pricing or pay-as-clear system. That is the fundamental problem. The Minister has established a national group to look at the regulatory framework governing the pricing of energy. That has to happen in tandem with Europe. The Iberian peninsula did something on this because of the high proportion of renewables in their mix. We need more renewable energy, but in the interim we are totally reliant on the importation of gas - not totally but almost 80%.

See this speech in context