Darragh O'Brien (Dublin Fingal East, Fianna Fail)

It is important to acknowledge that the largest energy retailer, Electric Ireland, did not increase its prices. I did discuss those very matters with the four companies in relation to their margins. The IEA report looked at the margin between retail and wholesale. It is not that the retail price is three times higher in Ireland than in other places. It is the margin. There are specific, unique characteristics to Ireland, particularly in relation to us being an island nation, the reliance that we still have on imported fossil, which we need to reduce further, and the fact that our energy retailers hedge and purchase forward. When we see a wholesale price decrease, I can fully understand people asking why the retail price does not come down straight away. The energy companies buy forward and they hedge. They will have purchased energy ten or 12 months ahead in some instances. That is why we do not see that decrease happening as quickly as we would like. I will continue to meet with the energy retailers on a regular basis. I have interrogated their pricing structure and I will be bringing forward further measures in the final energy affordability report, which I will publish in 2026.

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