Seanad debates

Thursday, 9 November 2023

Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Committee and Remaining Stages

 

9:30 am

Photo of Lynn BoylanLynn Boylan (Sinn Fein) | Oireachtas source

I move amendment No. 5:

In page 9, between lines 19 and 20, to insert the following:

Reporting on the application of the cap on market revenues across Member States within the European Union

6. The Minister shall, within six months of the passing of this Act, prepare and lay before the Houses of the Oireachtas a report on the application of the cap on market revenues in Ireland in comparison with the application of the cap on market revenues in all other Member States within the European Union.”

This amendment is related. It is crucial for us to serve as a valuable and significant gauge, taking into account the experiences and applications in Ireland in comparison to other nations. We have discussed the intricacies of how this programme should be structured but regarding the chosen design implementation it is essential that we can later assess and compare the experiences of its introduction with those of other EU member states. The thinking behind this proposal is that we are learning from what we did well and what other member states have done well.

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