Energy Prices

Dáil Éireann Debate, Wednesday - 26 April 2023

Wednesday, 26 April 2023

Questions (39)

Ivana Bacik

Question:

39. Deputy Ivana Bacik asked the Minister for the Environment, Climate and Communications if he is satisfied with the level of regulation and oversight of the Irish energy market covering domestic and commercial supply of electricity and gas; if he is satisfied with the current powers available to the Commission for Regulation of Utilities; if he intends to provide stronger powers to the CRU to regulate energy prices; and if he will make a statement on the matter. [19677/23]

Written answers

Minister for the Environment, Climate and Communications

The Commission for Regulation of Utilities (CRU) was assigned consumer protection functions under the 1999 Electricity Regulation Act and subsequent legislation and has statutory responsibility for the compliance by energy suppliers with their consumer protection obligations. The electricity and gas retail markets in Ireland operate within a European Union regulatory regime wherein electricity and gas markets are commercial and liberalised. 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 CRU. 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 2011. The Commission for Regulation of Utilities (CRU) is an independent regulator, accountable to a committee of the Oireachtas and not to me as Minister.