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
- Minister for Environment, Climate and Communications Primary
- First StageDáil
- Second StageDáil
- Committee StageDáil
- Report StageDáil
- Fifth StageDáil
- Second StageSeanad
- Committee StageSeanad
- Report StageSeanad
- Fifth StageSeanad Enacted
- Cream ListDáil Enacted
- EnactedEnacted
- 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