Electricity and gas retail markets in Ireland operate within a European regulatory regime wherein these markets are commercial, liberalised, and competitive with the market being overseen by the Commission for the Regulation of Utilities (CRU).
The Government is deeply conscious of the impact which rising energy prices, driven by an unprecedented increase in wholesale prices and the Russian invasion of Ukraine, have had on Irish consumers and businesses. The Government has made a number of important commitments in respect of addressing these energy price increases, both in terms of the review of the regulatory framework and increasing Ireland’s overall energy supply and independence.
The Programme for Government acknowledges the increased energy cost pressures on households and businesses and aims to bring forward measures to help contain energy costs.
Also under the Programme for Government 2025, Government has committed to emphasising that low costs for households and businesses are a central tenet in the updated mandate of the Commission for Regulation of Utilities (CRU). I have asked my officials to lead a review , which is currently underway, to clarify the existing complex energy remit of both the Minister and of CRU as set out in national and EU legislation.
This piece of work will pave the way for an assessment as to whether the current statutory functions are appropriate and sufficient as assigned or whether there are changes/updates required or gaps to be filled.
