Dáil Éireann Debate, Thursday - 8 September 2022
127. Deputy Ged Nash asked the Minister for the Environment, Climate and Communications the monthly generating costs per €mwh and retail price per €mhw of ESB power plants in 2021 and to date in 2022, in tabular form; and if he will make a statement on the matter. [43953/22]
Amharc ar fhreagra128. Deputy Ged Nash asked the Minister for the Environment, Climate and Communications if he will provide figures on the quarterly wholesale energy price for gas per €kwh paid by energy suppliers operating within the State in 2021 and to date in 2022, in tabular form; the quarterly retail price charged to gas customers per €kwh in 2021 and to date in 2022; and if he will make a statement on the matter. [43954/22]
Amharc ar fhreagraI propose to take Questions Nos. 127 and 128 together.
Gas supplies from Russia to Europe have been severely reduced over the last year and continue to be a cause for concern for Europe’s energy security. This has resulted in natural gas prices that are approximately ten times the levels seen just two years ago. The exceptionally high wholesale gas prices have led to unprecedented increases in electricity and retail gas prices faced by consumers.
Government is acutely aware of the impact of high electricity and gas prices, and has introduced a range of measures to mitigate their impact. The 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 unprecedentedly high, which feeds directly through to retail electricity prices as the wholesale price of electricity correlates strongly with the price of gas. Government has already put a €2.4 billion package of policies and measures in place to support people and continues to monitor this unprecedented and evolving situation closely to inform ongoing consideration of further action.
It is a function of CRU to regulate the market including market monitoring. The most recent market monitoring report is available at: www.cru.ie/wp-content/uploads/2021/11/211013-Energy-Water-Monitoring-Report-2020.pdf. In addition, my Department engages closely with the CRU, who examine market trends on an ongoing basis.
