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Enacted Dáil
No. 65 of 2023

Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023

Public bill · Government · Presented

Sets a temporary cap on how much electricity generators can earn from selling power made from certain sources, covering the period from 1 December 2022 to 30 June 2023. Any revenue above the cap must be paid to a collection agent, which will put the money into a fund and use it to help electricity consumers, while also setting out how the amounts are calculated, checked and enforced. It matters because it aims to stop unexpected profits from very high energy prices from staying with generators and instead channel some of that money back to people facing expensive electricity bills.

Formal long title

Bill entitled an Act to give full effect to Articles 6, 7, 8 and 10 of Council Regulation (EU) 2022/1854 of 6 October 2022 on an emergency intervention to address high energy prices and for that purpose to make provision for a cap, that is to say the market cap to apply to market revenues from the sale of electricity produced from certain sources for the period beginning on 1 December 2022 and ending on 30 June 2023; to provide for the payment of revenues of producers, intermediaries and traders in excess of the market cap to the collection agent; to provide for the calculation of the amounts payable; to provide for the obligations of producers, intermediaries and traders relating to the market cap and enforcement of certain obligations; to provide for the administration and collection of the amounts payable; to provide for a collection agent; to provide for the establishment and management of a market cap fund; to provide for the making of schemes for disbursement from the market cap fund in accordance with Article 10 of the Council Regulation; and to provide for related matters.

Last updated 30 August 2024

Sponsor
  • Minister for Environment, Climate and Communications Primary
Progress
  • First Stage
    Dáil
  • Second Stage
    Dáil
  • Committee Stage
    Dáil
  • Report Stage
    Dáil
  • Fifth Stage
    Dáil
  • Second Stage
    Seanad
  • Committee Stage
    Seanad
  • Report Stage
    Seanad
  • Fifth Stage
    Seanad Enacted
  • Cream List
    Dáil Enacted
  • Enacted
    Enacted
Debates
  • Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: From the Seanad
    Dáil
  • Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Committee and Remaining Stages
    Seanad
  • Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Second Stage
    Seanad
  • Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Report and Final Stages
    Dáil
  • Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Committee Stage
    Select Committee on Environment and Climate Action
  • Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Second Stage
    Dáil
  • Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023: Referral to Select Committee
    Dáil

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