Dáil Éireann Debate, Thursday - 2 June 2022
189. Deputy Bernard J. Durkan asked the Minister for the Environment, Climate and Communications the extent to which he expects to be in a position to protect the consumer from rising energy prices; and if he will make a statement on the matter. [28766/22]
Amharc ar fhreagraThe most immediate factor affecting electricity prices in Ireland and Europe is high international gas prices where we are a price taker. Gas prices are now unprecedently high, which feeds directly through to retail electricity prices as the wholesale price of electricity correlates strongly with the price of gas. Government is acutely aware of the impacts these rising prices will have on consumers, in particular the most vulnerable. Following the Budget 2022 package which introduced a number of supports for households, the Government announced in February a €505 million suite of measures to mitigate the cost of living increases including a credit payment to all households of €176.22 excluding VAT and an additional Fuel Allowance lump sum of €125.In April, the Government also published the National Energy Security Framework which details consumer supports and protections that are already in place and that are being enhanced including: - a further €100 Fuel Allowance lump sum payment
- a new targeted €20 million scheme for the installation of Photo Voltaic (PV) panels for households that have a high reliance on electricity for medical reasons
- a reduction in VAT from 13.5% to 9% on gas and electricity bills from the start of May until the end of October.As part of its statutory role, Commission for Regulation of Utilities (CRU), the independent regulator has consumer protection functions and monitors energy retail markets to ensure that competition continues to develop and for the benefit of the consumer. Response 6 of the Framework charges the CRU with implementing a package of measures to enhance protections for financially vulnerable customers and customers in debt by quarter 3 - ahead of the next heating season. As also set out in the Framework, work is ongoing to consider additional measures to help consumers meet the cost of energy taking into account available resources.
