Dáil Éireann Debate, Wednesday - 28 September 2022
97. Deputy Mattie McGrath asked the Minister for the Environment, Climate and Communications the measures he is taking to immediately introduce legislation to prevent increases in standing charges and the rising cost of electricity; and if he will make a statement on the matter. [47444/22]
View answerThe electricity and gas retail markets in Ireland operate within a European Union regulatory regime wherein electricity and gas markets are commercial, liberalised, and competitive. Operating within this overall EU framework, responsibility for the regulation of the electricity and gas markets, including the matters raised by the Deputy, is solely a matter for the Commission for Regulation of Utilities (CRU), which was assigned responsibility for the regulation of the Irish electricity and gas markets following the enactment of the Electricity Regulation Act (ERA), 1999.
The CRU is an independent statutory regulator and is accountable for the performance of its functions to the Oireachtas, and not to me as Minister. In line with long standing policy on deregulating price setting, CRU ended its regulation of retail prices in the electricity market in 2011, and in the gas market in 2014. Given that prices are no longer regulated, they are set by all suppliers as entirely commercial and operational matters by them. Each such company has its own different approach to pricing decisions over time, in accordance with factors such as their overall company strategic direction and developments in their cost base. The CRU provides a dedicated email address for Oireachtas members, which enables them raise questions on energy regulatory matters, such as the matter raised in this question, to CRU at oireachtas@cru.ie for timely direct reply
