Martin Brady (Fianna Fail)

I move amendment No. 1:

To delete all words after "Seanad Éireann" and substitute the following:

"commends the Government for:

- its comprehensive actions to deliver a secure, sustainable and competitive energy supply, including its commitment to increasing competition as the best means of exerting downward pressure on electricity prices in the long term, and improving the regulation of energy markets, with resultant benefits to consumers;

- its policy of enhancing security of supply and reducing our exposure to volatile international fuel prices through increased fuel diversity, with particular focus on indigenous resources;

- its decisive actions to mitigate energy costs for large energy users as well as its supports for domestic consumers; and

recognises

- that Ireland faces particular challenges in terms of energy cost competitiveness, including significant dependence on volatile imported fossil fuels, particularly gas and a requirement for major investment in energy infrastructure, following two decades of under-investment;

- that the implementation of Government policies, along with falling natural gas prices, has led to significant reductions in Irish electricity prices in recent years, bringing them closer to and in some cases below EU and eurozone averages for both domestic and business consumers;

- a significant number of domestic and business customers could reduce their electricity bills and more than offset the cost of the PSO levy by availing of reductions offered in the competitive electricity market or by engaging in Government supported energy efficiency programmes;

- that the PSO scheme and levy, which has been in place since 2001, is to support the continued contribution of peat-generated electricity, to increase security of supply and to deliver on the Government's 40% renewable electricity target, which in turn will contribute to achieving Ireland's legally binding EU renewables obligations."