Darren O'Rourke (Meath East, Sinn Fein)
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151. To ask the Minister for Communications, Climate Action and Environment the estimated full-year revenue from introducing a price-cap on inframarginal generators in Ireland at a rate of €180 per megawatt hour, compared to current wholesale electricity prices; and if he will make a statement on the matter. [45855/22]

Eamon Ryan (Dublin Bay South, Green Party)
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I attended a Council of Energy Ministers meeting on 9th September to address the extraordinary situation of energy prices in the EU and to work on possible emergency measures to mitigate current high prices and support demand reduction for electricity to strengthen the EU's winter preparedness.  These problems are being faced by all EU Member States and a united, determined and immediate response is being taken by the European Union as stated by President von der Leyen in her State of the Union Address last week. At the Council meeting, Ministers agreed that immediate action must be taken to ensure the EU's security of supply and alleviate pressure on customers, while maintaining consistency with the current efforts to reduce gas demand and the objectives of the European Green Deal and REPowerEU. As a result, the Commission has since proposed a number of short-term exceptional emergency measures, which include a proposal to cap the revenues of inframarginal electricity producers with low costs of production.

The Commission proposed such legislation on 14 September. This is already under urgent negotiation by Member States in order to have agreement by the end of the month. My Department is not yet able to have an accurate estimate of the likely revenue that arise from this proposal as Ireland, along with other Member States, is seeking clarification from the Commission on the proposal. The proposal may be amended before being presented to the Council later this month. It is important to note that the actual revenue will depend on many variables including in particular, the prevailing price of natural gas.