Eoin Ó Broin (Dublin Mid West, Sinn Fein)
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227. To ask the Minister for Environment, Community and Local Government the actions he is taking to investigate the allegation of price gouging levelled by the Taoiseach against energy suppliers during Leaders' Questions on 14 October and in light of evidence of price gouging highlighted by the International Energy Agency report (details supplied). [57356/25]

Darragh O'Brien (Dublin Fingal East, Fianna Fail)
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Regulation of retail energy markets is solely a matter for the Commission for Regulation of Utilities (CRU) since the enactment of the Electricity Regulation Act 1999, and subsequent legislation. The CRU is an independent regulator, accountable to a Committee of the Oireachtas and not to me as Minister.

However, officials from my Department correspond with the CRU on an ongoing basis to track developments in retail and wholesale energy markets. The CRU published a report on retail energy markets in September 2023 in relation to competition and supplier pricing in the energy market. The report was in response to a request by then Minister for the Environment, Climate and Communications, Eamon Ryan TD, to examine supplier hedging practices and pricing strategies in the Irish energy market. Based on a review of supplier prices and wholesale market costs, the CRU considered that retail prices are broadly continuing to reflect underlying cost drivers, such as wholesale gas and electricity prices, but with a lag period due to supplier hedging strategies.

Under the Programme for Government 2025, we have committed to commissioning an independent review into the speed and level of pass through from wholesale prices to retail prices with an additional assessment of the overall price dynamics and an overall focus on the competitiveness of the Irish economy. This is a priority work programme that will be progressed by my officials. My Department has also established a cross-Government National Energy Affordability Taskforce (NEAT) to identify, assess and implement measures that will enhance energy affordability for households and businesses, while delivering key renewable commitments and protecting security of supply and economic stability.

The NEAT interim report informed Budget 2026 discussions and will be published shortly. The core objective of the taskforce must now be to progress the drafting of an Energy Affordability Action Plan, which will examine measures and structural reforms to enhance energy affordability for households and businesses.