164. Deputy Michael Lowry asked the Minister for Climate, Energy and the Environment the steps he intends to take to protect consumers from excessive energy costs, particularly given the profit figures from major providers (details supplied); his views on whether the CRU is adequately fulfilling its role as a regulator, given that Ireland continues to have some of the highest energy prices in Europe; and if he is considering the re-nationalisation of electricity and gas supply to ensure affordability and security for households, given many people can no longer cope with rising cost-of-living and energy bills. [49378/25]

The electricity and gas retail markets in Ireland operate within a European Union regulatory regime wherein electricity and gas markets are commercial and liberalised. Operating within this overall EU framework, responsibility for the regulation of the electricity and gas markets, including the matters raised by the Deputy, is solely a matter for the independent regulator, Commission for Regulation of Utilities (CRU). In line with long standing policy on deregulating price setting, CRU ended its regulation of retail prices in the electricity market in 2011, and in the gas market in 2014.

Price setting by electricity suppliers, including standing charges, is a commercial and operational matter for the companies concerned. Each such company has its own different approach to pricing decisions over time, in accordance with factors such as their overall company strategic direction and developments in their cost base. Within a competitive environment, providers also have costs such as staffing, tax, infrastructure, and cost of network tariffs which, in turn, affects end users’ bills.

The Government is committed to addressing high energy costs experienced by Irish consumers. The Programme for Government acknowledges the increased energy cost pressures on households and businesses and commits to bringing forward measures to help contain these costs. Government recently approved an extension of the 9% VAT rate currently applied to gas and electricity by a further six months to October 2025 at an estimated cost of €85 million.

Further measures to support Irish consumers, including targeted schemes, will be considered as part of the work programme of the National Energy Affordability Taskforce.