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Seanad
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Electricity and fuel prices

Summary

Senator Sheahan seeks a debate with the Energy Minister on the regulator’s role and the failure of electricity and fuel prices to fall as promised.

Last winter I asked about the role of the energy regulator when the cost of fuel went through the roof. We were promised then that electricity costs would fall by the end of April. I have not been contacted by anybody whose electricity bills have dropped as a consequence. The electricity suppliers promised that the cost of electricity would drop. Will the Deputy Leader arrange a debate with the Minister for Communications, Energy and Natural Resources on the job description of the energy regulator? As of this morning, crude oil cost $59 a barrel, yet the price of petrol has risen consistently in the past few weeks to between €1.41.9 and €1.42.9 per litre. Fuel costs have risen weekly. What is the job of the energy regulator? How can the fuel companies substantiate raising the cost of fuel when a barrel of crude oil is $59?

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