Dáil Éireann Debate, Thursday - 17 December 2015
682. Deputy Michael Moynihan asked the Minister for Communications, Energy and Natural Resources if he has examined the reforms proposed by the Commission for Energy Regulation to help drive down prices for domestic and business users; and the associated costs to achieve this from a regulatory point of view. [46318/15]
Amharc ar fhreagraThe Commission for Energy Regulation (CER) is Ireland’s independent energy regulator and has a wide range of economic, customer protection and safety responsibilities. While it is entirely independent in the execution of its statutory duties, I am satisfied that it carries them out to the highest standard. As I have said in the White Paper on energy policy which I published yesterday, the CER has provided valuable regulatory stability, certainty and predictability through its strong, evidence-based and transparent decision-making.
CER ceased regulating retail electricity prices in 2011 and retail gas prices in 2014. The electricity and gas markets are commercial, liberalised, and competitive and they operate within national and European regulatory regimes. The competitive energy market results in choice for consumers and businesses in terms of suppliers, products and prices, exerting downward pressure on prices.
Under various relevant Statutory Instruments, CER carries out statutory market monitoring functions and has the responsibility to ensure the market operates competitively for the benefit of the consumer. The statutory functions include monitoring whether the development and operation of competition in electricity supply is benefitting final customers. CER market monitoring reports are available on its website. In this regard I am confident that the regulator is carrying out its functions effectively and that it will continue to ensure that competitive markets are delivering for all consumers as I set out in the White Paper. The recent announcements by Electric Ireland, Bord Gáis, SSE and Energia offering savings to customers indicate that competition is working for the benefit of customers.
The White Paper contains a commitment to review the legal and institutional framework for the regulation of the electricity and natural gas markets. This review will encompass a review of the CER’s mandate, in line with ongoing requirements for government sectoral economic regulation.
