Bernard Durkan (Kildare North, Fine Gael)
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Question 107: To ask the Minister for Communications, Energy and Natural Resources the steps he has taken at national or European level to ensure that consumers here gain full benefit from the lower energy prices on world markets with particular reference to the fact that oil prices on international markets are approximately one third of those applying when prices were at their peak; and if he will make a statement on the matter. [43655/08]

Eamon Ryan (Dublin South, Green Party)
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The Irish oil industry is fully privatised, liberalised and deregulated and there is no price control on petroleum products in Ireland. There is free entry to the market. Prices at the pump reflect global market price, transportation costs, Euro/Dollar fluctuations and other operating costs. Price differences are an ongoing feature of the market economy and it is a matter for retailers to explain price differences where they occur.

I would advise the Deputy that the National Consumer Agency is currently undertaking a survey into the relationship between pump prices for petrol and diesel and the wholesale price of crude oil. I understand that as part of its work, the Agency will seek to benchmark movements in prices in Ireland against those in other EU countries and that it will also seek to examine the frequency and the timeliness with which changes in the wholesale price are being passed on to consumers. I understand that the Agency expects to finalise its report into this matter very shortly.

The regulation of ESB electricity tariffs and BGÉ gas tariffs is the statutory responsibility of the Commission for Energy Regulation (CER) under the Electricity Regulation Act. I note yesterday's announcement by the CER of its Phase 2 decision on ESB and BGÉ tariffs, which is reflective of the recent easing in international market prices for gas and coal.

The upward global trend in energy prices generally reinforces the imperative for Ireland to reduce its dependency on fossil fuels and to use energy wisely and efficiently. The Government is committed to accelerated delivery of our targets for renewable energy, which in the area of electricity has recently been increased to 40% by 2020, and energy efficiency, which are essential to ensure a sustainable energy future for the economy and consumers. My Department is working with other key Government Departments on initiatives to accelerate the deployment of renewable energy in electricity, transport and heating, and to implement major energy efficiency and demand management programmes for both domestic and business consumers.

The continued global volatility in energy prices is a cause for concern among EU Member States and I am working with my EU colleagues on strategies to enhance security of supply sustainability and competitiveness. These include the acceleration of renewable energy and energy efficiency measures, ongoing investment in energy infrastructure, increasing the transparency of oil and gas markets, and enhanced dialogue with oil and gas producing countries.