Dáil Éireann Debate, Thursday - 10 July 2014
115. Deputy Michael Colreavy asked the Minister for Communications, Energy and Natural Resources the power he has to implement a price freeze on the cost of electricity; if he has ever considered introducing one; and if he will make a statement on the matter. [30448/14]
View answerWhile I am acutely aware of the financial challenges faced by many families at the current time, I have no statutory function in the monitoring or setting of electricity prices, whether in the regulated or non-regulated parts of these markets. It is important to note that the electricity and gas markets are commercial, liberated and operate within national and European regulatory regimes and that responsibility for the regulation of the markets is a matter for the Commission for Energy Regulation (CER), which is an independent statutory body. Direct Government interventions that would impact on the prices of electricity and gas products would contravene the EU Third Energy Package of legislation which governs the energy policy framework in relation to electricity and gas markets.
At a national level, the competitive energy market in place helps put downward pressure on prices. The CER is focussed on actions that can mitigate costs for business and domestic customers, including rigorous regulatory scrutiny of the network costs component of retail prices. Energy efficiency represents a significant opportunity for households to reduce their energy costs. There are energy efficiency measures in place to assist both business and domestic energy consumers, with significant funding allocated to them. The Energy Efficiency Fund, which I announced in February 2013 has commenced funding specific measures and is assisting, and will assist further, energy efficiency projects in the public and commercial sectors.
There are a number of avenues open to consumers to try to mitigate rising electricity prices, and measures are also in place to assist them. Accordingly, consumers can and should shop around to get the best possible price and service deal from suppliers, and switch supplier if necessary, bearing in mind that all suppliers offer competitive prices and products. Consumers can also take steps to improve the efficiency of their electricity usage which delivers demonstrable savings including availing of Government funded measures. The SEAI-administered Warmer Homes Scheme (WHS) aims to improve the energy efficiency and comfort conditions of homes occupied by vulnerable households in receipt of the National Fuel Allowance Scheme through the installation of draught proofing, attic insulation, lagging jackets, low energy light bulbs and cavity wall insulation where appropriate. Details are available at:
http://www.seai.ie/Power_of_One/Grants_Available/#sthash.OLDT5wQG.dpuf
