Dáil Éireann Debate, Tuesday - 20 September 2022
97. Deputy Richard Boyd Barrett asked the Minister for the Environment, Climate and Communications if he will examine the current liberalised energy system and its impact on energy prices; if his Department will look at the policies of other states who have moved to some forms of renationalisation of energy generation; and if he will make a statement on the matter. [45745/22]
View answer102. Deputy Bríd Smith asked the Minister for the Environment, Climate and Communications if he will examine the current liberalised energy system and its impact on energy prices; if his department will look at the policies of other States that have moved to some forms of renationalisation of energy generation; and if he will make a statement on the matter. [45740/22]
View answerI propose to take Questions Nos. 97 and 102 together.
Russia's unjustified and unprovoked war against Ukraine has highly impacted energy in Europe. EU countries are closely coordinating actions to tackle rising energy prices and ensure security of our energy supplies. These problems are being faced by all EU Member States and a united, determined and immediate response is being taken by the EU as stated by President von der Leyen in her State of the Union Address this week. The Commission has proposed a number of short-term exceptional emergency measures in recent days which include a proposal incentivising coordinated electricity demand-reduction across the EU. Other proposals include capping the revenues of inframarginal electricity producers with low costs of production and introducing a solidarity contribution from fossil fuel companies to be used to mitigate the impact of high energy prices on customers.Concerning the medium/longer-term improvements to the market framework, the European Commission is carrying out a review of the electricity market and will propose adjustments to the functioning of electricity markets supported by an impact assessment. Any proposals to amend the market structure should be based on detailed analysis and evaluation in order to fully understand the implications and consequences of any changes regarding green energy transition investment and net zero objectives, security of supply, and the integrity of the single electricity market.
