Darren O'Rourke (Meath East, Sinn Fein)
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I move:

That leave be granted to introduce a Bill entitled an Act to amend the Electricity Regulation Act 1999 to give the Commission for Regulation of Utilities (CRU) the legislative remit required to effectively monitor and regulate standing charges on electricity and gas bills, and to provide for related matters.

The past 18 months have put into sharp focus just how essential it is we have a regulatory body that has the ability to effectively monitor and supervise the energy market. Instead, what we have is absolute chaos. While workers and families continue to be crippled by sky-high energy prices, energy companies seem to have free reign to do as they please. Most people were shocked to learn that standing charges are not regulated by our regulator, the Commission for Regulation of Utilities, CRU. As ridiculous as it seems, it helps to explain why some energy companies were free to increase their standing charges by €300 last year. One supplier was even charging up to €700 per year in standing charges alone. That is €700 before one even switches on a light.

This Bill would provide a legislative basis for the CRU, not only to effectively monitor standing charges and investigate suspected incidences of their use to increase profits, but the power to require suppliers with excessive rates to decrease them to cover their fixed costs only. The Bill would also require utility companies to seek prior approval from the CRU for any proposed increase in the rate of their standing charge. This is one of a suite of measures Sinn Féin has proposed to address the disorder within the energy market and to reign in energy companies. I welcome the opportunity to put the Bill before the House.

Réada Cronin (Kildare North, Sinn Fein)
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I am delighted to be introducing the Electricity Regulation (Amendment) (Standing Charges) Bill 2023 to the House, along with an Teachta O'Rourke. Our Bill is an important one. Given its name is the Commission for Regulation of Utilities, one would think the CRU would already have the power to do what our Bill proposes it would be able to do. Our Bill's intention is to give powers to the CRU to regulate standing charges and in so doing, to help the consumer who is now punch drunk from bills and price hikes in every area of his or her life, never mind the very basics of heating and light. We formulated this Bill with our people in mind, because right now they need a hand with their Bills and not to have the fear of another wallop coming down the road. We are in the unfortunate position in this State where we must rely on a for-profit model for an essential service such as energy.

The standing charge part of one's energy bill refers to a fixed charge that is in no way related to one's energy consumption and the charge is going up all the time. We have discussed this matter with the CRU at the Joint Committee on Environment and Climate Action several times and it tells us it does not have the legislative framework to address energy companies raising standing charges. My colleague already mentioned some of these can be in multiples of hundreds of euro per year. The for-profit company's expectation is to make a profit and while people are doing their very best to conserve energy, these for-profit energy companies are looking to standing charges to increase their profits and our Bill will address that. It is having a detrimental effect on those who are really struggling to make ends meet and those who have forked out thousands of euro already to insulate their homes and reduce their energy bills.

Our legislation will give the CRU the power to regulate standing charges and require energy companies to show how their charges relate to their fixed costs, ensuring that standing charges are not used to increase profits. Our Bill will also make sure that energy companies will have to seek approval from the CRU before a rise and they would have to show it has to do with providing the energy on the grid. This has been an awful year for people who are worried about the cost of everything. This Bill will give people a chance to take a breath and know the people in this House are on their side, when it comes to reining in prices. Our Bill is vital and we should allow the regulator to regulate these considerable costs.

Catherine Connolly (Galway West, Independent)
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Is the Bill being opposed?

Anne Rabbitte (Galway East, Fianna Fail)
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No.

Catherine Connolly (Galway West, Independent)
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Since this is a Private Members' Bill, Second Stage must, under Standing Orders, be taken in Private Members' time.

Darren O'Rourke (Meath East, Sinn Fein)
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I move: "That the Bill be taken in Private Members' time."