Mary Lou McDonald (Dublin Central, Sinn Fein)

Yesterday, I raised with the Taoiseach the scandal of big energy companies shamelessly ripping off and gouging households. I outlined how the latest report from the International Energy Agency highlights that Irish energy bills are three times higher than the wholesale cost of energy. The cost of energy has dropped significantly since 2022, but these companies are not passing on savings to hard-pressed customers. Instead, they pocket the savings to boost their own massive profits. Proof of Irish households being so blatantly ripped off should provoke the Head of Government into action, determined to rein in these companies. I asked him a very straight question: what will he do to end this rip off? In response, he offered absolutely nothing. Having already withdrawn energy credits, the Taoiseach now shrugs his shoulders as households are taken for a ride and as more than 1 million households face big hikes in their electricity bills this month.

People are very worried. I spoke with one woman last night who is at her wits' end. She and her husband have three kids. They both work and they are worn out from paying rip-off bills. This woman is up to ninety wondering how she will afford increased electricity bills this winter. She told me that she fears they will go into arrears and that they might face being cut off because she simply does not have a euro to spare. I was contacted recently by another mother. Her husband works full time. She says the unaffordable cost of childcare prevents her from working. She wrote to me, stating:

Our ESB bill became so high over the past two years that we were left with no choice but to switch to a pre-pay system, just to ensure the electricity was not cut off. I am extremely worried now as we face winter. We can't afford oil to heat our home. We are drowning in bills and we are struggling to stay afloat.

This is what the rip-off means in real life, and the Taoiseach allows it to happen. In other EU states, governments ensure that the regulators have full oversight of the hedging practices of energy companies, but this Government is happy to take companies at their word. That is weak and, at best, naive. We produced a Bill that will provide the regulator with such powers. We have been raising this matter for the past three years. The Government should, of course, implement this legislation and start putting manners on these companies.

Tá Fianna Fáil agus Fine Gael sásta suí siar agus tada a dhéanamh agus ligean do na comhlachtaí fuinnimh leas a bhaint as teaghlaigh na hÉireann. Diúltaíonn an Rialtas seo seasamh ar son oibrithe agus teaghlaigh agus i gcoinne phraghsanna arda fuinnimh.

In almost every other EU state, the drop in the wholesale cost of energy is being passed on to the customer. Households are getting a break, but it is not happening here. This disinterested, out-of-touch approach from the Government cannot continue. Yesterday, he said that he recognises and accepts that price gouging is happening. Back in July, when he was challenged on the floor of the Dáil, he said " we ... have the guts to take on anyone who is engaged in price gouging, absolutely." So far, this Government has been gutless. He is the Head of Government. He should do his job. Can he please tell households what exactly he will do to protect them from this blatant gouging and blatant profiteering?

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