Michael Moynihan (Cork North West, Fianna Fail)
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33. To ask the Minister for Communications, Energy and Natural Resources if he will consider amending the legislation concerning the energy regulator in order to ensure that part of his remit is the reduction of energy prices here; and if he will make a statement on the matter. [40194/14]

Alex White (Dublin South, Labour)
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Irish energy markets, in complying with EU and national legislation, are liberalised, competitive, commercial, and subject to regulation by the independent Commission for Energy Regulation (CER). I have no statutory function in the matters of monitoring or setting of gas and electricity prices. The CER does not decide the retail prices charged by any of the various suppliers of electricity and gas, including the prices charged by commercial State companies. Competitive and commercial markets offer choice in terms of suppliers, products, and prices and minimise the potential for negative impacts on competitiveness and consumers.

Prices are set competitively by suppliers in the electricity and gas retail markets and their pricing decisions are wholly commercial matters for them. The CER carries out statutory market monitoring functions under SI No. 630 of 2011 to ensure the market operates competitively to the benefit of the consumer. The CER also has the power to take whatever action it considers necessary to prevent any restrictions in competition and to ensure that customers benefit from competition in the supply of gas and electricity.

Energy efficiency represents a significant opportunity for households to reduce their energy costs. There are energy efficiency measures in place to assist both business and domestic energy consumers, with significant funding allocated to them. Promotion of indigenous sustainable sources of energy also helps to offset the impact of volatile fossil fuel prices. The Government has a target of 40% of electricity being generated from renewable sources by 2020. Steady progress has been made in meeting this target and its realisation will introduce more certainty in the energy fuel mix as well as boosting security of supply.

Data on average electricity prices are in the public domain and are published in the SEAI "Electricity and Gas Prices in Ireland" reports and these are available on the SEAI's website. The reports are published biannually since 2008 in accordance with the EU Gas and Electricity Price Transparency Directive 90/377/EEC as amended by Council Decision 2007/394/EC.