Dáil Éireann Debate, Thursday - 15 June 2023
93. Deputy Darren O'Rourke asked the Minister for the Environment, Climate and Communications if he will detail the extent to which the mandate and resourcing of the Commission for the Regulation of Utilities provides for an assessment of the hedging practices of energy companies and, separately, investigation of price gouging and prosecution of same; and if he will make a statement on the matter. [28918/23]
View answerThe 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, 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, 1999. As part of its statutory role, the CRU also has consumer protection functions and sets out the obligations on suppliers in the Electricity and Gas Suppliers Handbooks.
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. Price setting by electricity suppliers, including standing charges is a commercial and operational matter for the companies concerned. 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.
Officials from my Department meet on an ongoing basis with a range of stakeholders including the CRU.
With regard to resourcing, approval has been given, in full, for the CRU’s three year workforce plan, representing 74 new whole time equivalent positions, which include an additional director to meet its objectives under the Strategic Plan 2022-2024.
The Deputy may wish to note that CRU provides a dedicated email address for Oireachtas members at, which enables them raise questions on energy regulatory matters to CRU for timely, direct, reply.
