Frances Black (Independent) | Oireachtas source

I support Senator Ó Donnghaile's call for a debate on the eviction ban.

Aside from homelessness, there are many sources of worry and anxiety in people's lives. One I hear about constantly is that of electricity bills. Prices have risen so rapidly in recent months that people are no longer able to estimate what their bills will be. Sometimes, the fear is so great that the envelope is left unopened on the kitchen counter because the recipient is too afraid to open it. We know that feeling. The envelope becomes a physical manifestation of the pervasive sense of dread that the cost-of-living crisis inspires in many households.

The outlook is brighter for some, though. The ESB just posted extraordinary profits of €847 million for 2022, an increase from €679 million in 2021. To celebrate its success, the ESB has proposed an enhanced shareholder dividend of €327 million, which would be €200 million more than last year's. The State is the majority shareholder in the ESB. Why is the State allowing the ESB to fleece customers to make these bumper profits? Why is the Government not meaningfully protecting customers from flagrant price gouging? When Russia began its criminal invasion of Ukraine, global energy prices spiked, which was reflected in people's bills. We could argue about whether enough was done at the time to insulate the people made vulnerable by this price spike, but the economic logic behind it was clear. A year later, wholesale energy prices have normalised, but that reduction is not reflected in consumers' bills. Is this war profiteering, plain and simple? Is it greedy and damaging to social solidarity?

The Minister for Public Expenditure, National Development Plan Delivery and Reform, Deputy Donohoe, has stated that the money the State receives from its dividend will be used to fund cost-of-living measures in the next budget. I am concerned about this. People are being crippled by bills. Using bumper profits to fund cost-of-living rebates is a form of indirect taxation that only contributes to a dysfunctional energy market. Cost-of-living rebates do not get to the core of the cost-of-living crisis, which is lax regulation and decades of neoliberal policies and unchecked corporate greed.The system is broken, squeezed customers are paying the price, and something needs to be done. I would like the Minister, Deputy Donohoe, or the Minister, Deputy Ryan, to come before the House to address the issue of how the Government will ease the burden of energy bills.