Cian O'Callaghan (Dublin Bay North, Social Democrats)
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193. To ask the Minister for Communications, Climate Action and Environment the proceeds collected arising from the cap on market revenues to date; the use to which these monies will be put; and if he will make a statement on the matter. [13378/25]

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.