Danny Healy-Rae (Kerry, Independent)

I am glad to get the opportunity to say a few words about the cost of electricity. Of course, I have often said before that the closure of Shannonbridge and Lanesborough power stations has resulted in the cost of electricity going up day after day. We have no control anymore because we have lost our main source of energy. When the wind does not blow, we need to have something. This means that despite the steady fall in European gas prices since the beginning of 2023, Irish consumers are unlikely to see this decline reflected in their bills any time soon. This is due to the way suppliers purchase energy, often buying their gas six months in advance at a higher predicted price. This is because it is known there is nothing else. As a result, while some suppliers have reduced prices, those price drops pale in significance to the price drops customers in other EU countries are seeing.

The latest household energy price index has also reiterated the startling reality that Ireland's electricity prices continue to tower above the European average. This has placed an enormous burden on electricity users, leaving workers and families grappling with exorbitant electricity bills. Despite a modest 3% reduction in electricity prices over the years, Irish electricity prices remain a staggering 66.4% higher than is the case in any other European member state. Adding to people's frustration is the fact that energy companies are reaping substantial profits. For instance, the Government-owned ESB saw profits soar by an astounding 30% to €886 million in 2023.

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