Dáil Éireann Debate, Wednesday - 12 October 2005
189 Mr. Durkan asked the Minister for Communications, Marine and Natural Resources if his attention has been drawn to the negative impact on the economy of increased fuel prices on the world market; the reason it will be necessary to increase prices here in respect of fuels produced nationally; if he will develop or revise energy policy with a view to achieving a greater degree of self-sufficiency with the emphasis on sustainability [27948/05]
Amharc ar fhreagra279 Mr. Durkan asked the Minister for Communications, Marine and Natural Resources if his attention has been drawn to the negative impact of the economy of increased fuel prices on the world market; the reason it will be necessary to increase prices here in respect of fuels produced nationally; if he will develop or revise energy policy with a view to achieving a greater degree of self-sufficiency with the emphasis on sustainability [28152/05]
Amharc ar fhreagraI propose to take Questions Nos. 189 and 279 together.
Ireland, in line with many of our OECD neighbours, is becoming increasingly reliant on fossil fuel imports. As we are all aware, the cost of these internationally traded commodities, mainly oil and gas, have all increased significantly in recent times. Obviously sustained high fuel costs are not good for any economy and reducing our dependency on these imports represents a major challenge for us all. However, notwithstanding these high costs, the ESRI Quarterly Economic Commentary, published last week, suggests that Ireland's strong economic growth will continue for the foreseeable future. Economic growth as measured by real GDP is forecast to grow by 5.7% this year and by 5% in 2006.
I do not have a function in relation to the pricing of gas or electricity. These are matters which fall under the statutory remit of the Commission for Energy Regulation.
With regard to the development of energy policy, I am in the process of preparing an energy policy paper which I aim to have ready for publication early in 2006. While such a policy document must address a range of complex and interlinked objectives, I am anxious to put an emphasis on the challenge of creating a sustainable energy future.
