Dáil Éireann Debate, Tuesday - 7 October 2025
35. Deputy Peadar Tóibín asked the Minister for Climate, Energy and the Environment the reason only a small amount of the total balance of the market cap fund has been spent; what the currently distributed funds have been spent on; the plans to distribute the remainder of the fund; and if he will make a statement on the matter. [53400/25]
View answerThe Energy (Windfall Gains in the Energy Sector)(Cap on Market Revenues) Act 2023 implemented a cap on market revenues of licensed producers of electricity as required in Council Regulation (EU) 2022/1854 of 6 October 2022 on an emergency intervention to address high energy prices. The cap was applied for the period 1 December 2022 to 30 June 2023 and the proceeds from the cap on market revenues were approximately €190 million.
The Act provides for the establishment and administration of a fund, to be known as the Market Cap Fund, into which the proceeds from the cap on market revenues will be held. These proceeds are managed by EirGrid on behalf of the CRU. The Act provides that I, with the consent of the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, may prescribe one or more schemes under the fund to finance targeted, non-discriminatory and verifiable measures in support of final electricity consumers to mitigate the impact of high electricity prices.
To date, I have approved the allocation of €27 million from the Market Cap Fund to support the Non-Domestic Microgen Scheme. As of 15 September 2025, €3.9 million has been disbursed to the Sustainable Energy Authority of Ireland which administers the scheme on behalf of my Department.
My Department is currently preparing its sectoral capital plan that will set out how it proposes to prioritise the resources allocated to it under the National Development Plan 2026-2030 and I intend that funding under the Market Cap Fund will complement the Department's strategic investment objectives for the next five years.
