Electric Ireland yesterday announced a 6.2% increase in electricity prices and an 8% increase in gas prices starting in August. This electricity price increase is on top of a 4% increase last February and is symptomatic of a range of utility price increases affecting families and homes across the country. This new increase will add approximately €50 per annum to electricity bills on top of the €30 added earlier this year. What proposal does the Government have to address the rising cost of utility bills, and indeed the rising cost of living in general, for families across the country?

The Government is acutely aware of the financial challenges faced by families and businesses from high electricity and gas prices. The Government's position is that a competitive electricity market, alongside energy efficiency, represents the most effective means of reducing household and business energy costs in Ireland. Domestic customers can avail of discounts either by contacting their supplier directly or by using accredited websites. We think the answer here is to ensure that we maintain a competitive market where customers and businesses are offered new products in that competitive market. We encourage them to look around at different suppliers rather than simply stick with their existing supplier without looking for better deals, because they are there.