Niall Ó Brolcháin (Green Party)

He is a gentleman.

The purpose of this Bill is to recover a substantial proportion of the carbon windfall gains being made by electricity generators through the single electricity market, SEM. As Senator Buttimer correctly stated, we are speaking of a windfall tax on generators. Senator Quinn appears to think that high electricity prices in themselves are a detriment to business. There is no guarantee that the windfalls received by companies will be passed on to consumers. It is sensible for the Government to introduce this measure which will generate income for it which can rightly be spent, as all carbon measures are, on a revenue neutral basis, assisting industry to be more efficient in terms of its energy use. That is a point which people keep missing in regard to carbon measures. People focus on the fact that money is being generated rather than on the fact that money is also saved, which is an important point and the purpose of the carbon levy. The carbon levy will, on the one hand, generate money from the use of carbon and, on the other, decrease the use of energy in order that the overall cost of energy to households and businesses is reduced.

I agree with Senator Buttimer's remarks in regard to smart meters. I am delighted to hear he has a smart meter in his home. I do not have one in mine and would be grateful if this process could be moved on. Every house should have a smart meter. We need to ensure there is minimal energy use at industry and domestic levels. This is done by way of measures such as the one now being introduced. This measure is a relatively minor one which seeks to ensure the extra money accruing to generators as a result of new EU rules is not kept by them and that some of it is put into the public coffers. At times of great difficulty in terms of finances it is important that such measures are introduced.

On carbon infrastructure in general, there appears to be a view in this and the other House that in respect of measures in regard to carbon and energy security in general we can have it all one way and not the other, namely, that we cannot tax people and can spend money on insulation and energy reduction measures. This simply is not possible in these difficult times. We cannot spend money which does not in the first instance accrue to the Government. That defies the laws of gravity. The general view appears to be that we can provide all types of services from revenues which are increasingly decreasing without having to introduce new taxation measures or cutting costs. I am increasingly frustrated by people who put forward one side of the balance sheet. I am glad to note that in this instance the Fine Gael Party is looking at both sides of the balance sheet. That is important. This year's budget will be difficult. Every measure we can introduce to ensure the most vulnerable people in society are not hit is important.

On energy, the warmer home scheme in particular needs to be better funded. We need to ensure people who are struggling with energy and fuel poverty are taken care of and to ensure their expenditure in terms of energy costs is reduced to a minimum. I have no doubt the Labour Party will be with me on that point. However, all of this must be funded. One way of funding this is to introduce measures such as this one. We cannot magic the money from nowhere. Local authorities put their resources into the warmer home scheme thus ensuring as many social houses as possible are insulated. Fuel poverty will be a greater issue in this country in the future.

There is much talk about climate change and carbon reduction. Energy security is also an important issue. People who believe that with an ever-dwindling supply of oil, prices will somehow decrease are wrong. The price of fossil fuels has been drifting steadily upward.

The Government's efforts regarding renewable and non-carbon producing energy resources are extremely commendable. In the past two years we have more than doubled production of electricity from renewable energy resources. That is a great achievement by the Government. We need to get to 100%. There was much talk today about the Queen of England coming to visit in the future. I am wary of the idea of exporting all the renewable energy we produce directly to Britain. Many suggest this, including a group called the Spirit of Ireland. We need to ensure the country becomes 100% self-sufficient in producing its own energy. This is absolutely possible and the way forward. When we reach a figure of 100%, we can then look at exporting.