Electricity bills and ESB profits
Deputy Healy-Rae said soaring electricity bills and standing charges showed households had lost control, despite the State’s ESB stake. The Minister replied that the regulator monitors ESB and EirGrid to ensure necessary investment does not become excess profit.
Households, businesses and people everywhere are terrified by the exorbitant cost of the electricity bills they are receiving.
They see where the ESB companies' profits have trebled and their standing charges have trebled, and they ask whether the Government has any control. The Government has a 90% share in ESB. The Minister states the way to go is electric. Is the Government to let this continue? Where is the energy regulator? Has the Government any control over what is happening? Is this to be allowed continue?
The Government says it will get it back. Why did the Government let them take it in the first place?
I can honestly tell the Government that there are old women now afraid to boil the kettle. Traditionally, in rural Ireland, the kettle was always at the ready to make a sup of tea for the people but the facts are that old people are afraid to boil the kettle now because they are seeing the bills that they are getting and they are absolutely terrified. I am asking the Minister whether the Government has any control over what is happening.
Comment on this
I thank the Deputy. We have to be able to boil the kettle anyway to make a cup of tea.
Comment on this
We do.
The energy regulator has a key role. She is constantly looking at what the ESB is doing, particularly in ESB Networks and EirGrid, the other transmission company, to make sure that the investment needed to get that kettle to boil does not lead to an excess profit to the company. She is involved directly in making sure that the return they get is not an excess profit but that we have the ability to make sure every kettle and every light turns on every time we flick the switch.