Pa Daly (Kerry, Sinn Fein)
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173. To ask the Minister for Communications, Climate Action and Environment the revenue that was raised via the cap on market revenues; how this compares to the original projected revenue; and if he will make a statement on the matter. [11353/25]

Darragh O'Brien (Dublin Fingal East, Fianna Fail)
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On 17 November 2023, the Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Act 2023 passed through the Houses of the Oireachtas and was signed into law by the President.

In accordance with Council Regulation 2022/1854, the Act introduced a cap on market revenues from the sale of electricity produced from certain sources for the period beginning on 1 December 2022 and ending on 30 June 2023.

The estimated proceeds from the cap on market revenues ranged from €80 million to €150 million. The proceeds from the cap on market revenues were approximately €189m.

Pa Daly (Kerry, Sinn Fein)
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174. To ask the Minister for Communications, Climate Action and Environment the revenue that was raised via the temporary solidarity contribution; how this compares to the original projected revenue; and if he will make a statement on the matter. [11354/25]

Darragh O'Brien (Dublin Fingal East, Fianna Fail)
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On 17th July 2023, the Energy (Windfall Gains in the Energy Sector) (Temporary Solidarity Contribution) Act 2023 passed through the Houses of the Oireachtas and was signed into law by the President.

In accordance with Council Regulation 2022/1854, the Act introduces a temporary solidarity contribution to fossil fuel companies on earned unexpected surplus profits (“windfall gains”) for the years 2022 and 2023.

Estimates on expected revenues put the proceeds from the temporary solidarity contribution in a range from €200m to €450m. The proceeds from the temporary solidarity contribution were €167.2m for 2023 and €99.7m for 2024, giving a total of approx. €266.9m raised.

Pa Daly (Kerry, Sinn Fein)
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175. To ask the Minister for Communications, Climate Action and Environment about the cap on market revenues, if this money been spent; if so, the way it has been spent; and if he will make a statement on the matter. [11365/25]

Darragh O'Brien (Dublin Fingal East, Fianna Fail)
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The Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Act 2023 was enacted in November 2023 and was commenced on 4 December 2023. This Act implemented a cap on market revenues of specific electricity producers, traders and intermediaries as required in Council Regulation (EU) 2022/1854 of 6 October 2022 on an emergency intervention to address high energy prices.

The Act provides for the collection agent to establish, administer, and maintain a fund to be known as the Market Cap Fund, into which the proceeds from the cap on market revenues will be retained. Under the Act, the proceeds from the cap on market revenues have been retained by EirGrid on behalf of the Commission for Regulation of Utilities (CRU) and are to be used to support final electricity consumers in measures in line with Article 10 of the Regulation.

The returns received by the CRU to date are currently subject to audit. Pending final adjustments, it is estimated that the size of the fund will be approximately €189 million.

The monies collected have not yet been spent. My Department is preparing a recommendation for the disbursement of the funds to suitable schemes benefitting final electricity customers in keeping with the requirements of Council Regulation (EU) 2022/1854 and in co-operation with the Minister for Public Expenditure, NDP Delivery and Reform.