Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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152. To ask the Minister for Communications, Climate Action and Environment the reason electricity prices have remained so high in Ireland compared with Ireland's EU partners; and if he will make a statement on the matter. [21736/23]

Eamon Ryan (Dublin Bay South, Green Party)
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The unprecedented increase in international wholesale gas prices have continued as result of the volatility in the international gas market driven by the Russian invasion of Ukraine and the on-going war. These gas increases feed directly through to retail electricity prices as the wholesale price of electricity correlates strongly with the price of gas.

Ireland faces particular challenges in this regard as we are a price taker on international markets and that Irish electricity and gas prices have historically been affected by long standing drivers such as geographical isolation, dispersed population, fossil fuel dependency and small market scale.

Responsibility for the regulation of the retail electricity and gas markets was assigned to the CRU under the 1999 Electricity Regulation Act and subsequent legislation. CRU ceased price setting for electricity and gas in 2011 and 2014. Therefore, the setting of prices and charges is a commercial matter for individual supply companies.

Government is acutely aware of the impact that the increases in global energy prices continue to have on households and has prioritised action across Government to support people to stay warm and well. This is why a €2.4 billion package of supports was implemented during 2022, a package of once off measures worth €2.5 billion included in Budget 2023, followed by a further €1.25 billion package of supports in February 2023.

The Commission for Regulation of Utilities (CRU) also introduced enhanced consumer protection measures to be implemented by electricity and gas providers. These measures provided additional protections from disconnections and other safeguards for customers.

Our long term priority and the best long-term approach for Ireland is to insulate consumers from volatility on international wholesale energy markets is to invest in energy efficiency, renewable energy and expand interconnection with European and neighbouring markets and deepen internal market integration.