Pa Daly (Kerry, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

191. To ask the Minister for Communications, Climate Action and Environment if he has considered reintroduction of the temporary solidarity contribution and the cap on market revenues in response to rising wholesale gas and retail prices in the energy market; and if he will make a statement on the matter. [10404/25]

Darragh O'Brien (Dublin Fingal East, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

The Russian invasion of Ukraine led to significant increases in wholesale natural gas prices, resulting in consumers paying higher prices for gas and electricity. Consistently high wholesale gas prices over a period of time also led to windfall gains for some entities in the fossil fuel production and refining sectors, and in the electricity sector.

Council Regulation (EU) 2022/1854 was passed on 6 October 2022 on an emergency intervention to address high energy prices across Europe.

The Energy (Windfall Gains in the Energy Sector)(Temporary Solidarity Contribution) and Energy (Windfall Gains in the Energy Sector)(Cap on Market Revenues) Acts were brought in to implement the Regulation in Ireland. These Acts contained measures for a temporary solidarity contribution on fossil fuel production and refining, and a cap on market revenues on certain electricity generators.

The legal basis via Council Regulation (EU) 2022/1854 for the Windfall Acts legislation applies only to the years 2022 and 2023.