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

The Deputy understands how the energy markets work. I am just stating it factually in relation to the time lag between wholesale price decreases and retail price decreases. There are unique attributes to Ireland. That said, energy costs are too high and we need to bring those prices down permanently. We are affected by geopolitical issues. Ukraine has had an effect, absolutely. Europe has had to pivot away, and rightly so, from dependence on Russian gas and oil. We are still importing a significant amount of our energy from third countries. That is why the expansion of renewables is so critically important, which we are seeing. There was another successful option just a number of weeks ago for onshore and the delivery of additional electricity, our electricity, our energy that is clean and generated here.

To answer the Deputy's question, work is ongoing on pricing. It is something I am watching very closely. That is why I have met the companies directly myself. It is important to acknowledge that the largest retailer has not increased its prices. We need to get prices down. We will do that by continuing to diversify our electricity market and electricity generation. That is why grid investment is so critical, including things like the North-South interconnector. If that was built, it would bring down energy prices for every household and every business pretty much straight away. Projects like that need to be delivered.

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