Dáil Éireann Debate, Thursday - 20 November 2025
212. Deputy Ken O'Flynn asked the Minister for Climate, Energy and the Environment if he will publish the latest Commission for Regulation of Utilities analysis on supplier margins in the retail energy market for 2024 and 2025, the link between wholesale price reductions and retail pricing decisions; and the actions he is taking to ensure that households benefit from lower wholesale prices without delay. [64761/25]
Amharc ar fhreagraRegulation of retail energy markets is solely a matter for the Commission for Regulation of Utilities (CRU) since the enactment of the Electricity Regulation Act 1999, and subsequent legislation. The CRU is an independent regulator, accountable to the Oireachtas and not to me as Minister.
However, officials from my Department engage with the CRU on an ongoing basis to track developments in retail and wholesale energy markets. The CRU published a report on retail energy markets in September 2023 in relation to competition and supplier pricing in the energy market. The report was in response to a request by the then Minister for the Environment, Climate and Communications, Eamon Ryan TD, to examine supplier hedging practices and pricing strategies in the Irish energy market. Based on a review of supplier prices and wholesale market costs, the CRU considered that retail prices are broadly continuing to reflect underlying cost drivers, such as wholesale gas and electricity prices, but with a lag period due to supplier hedging strategies.
The CRU also published a report comparing household electricity and gas prices between Ireland and other European countries in 2024. This report outlined that hedging strategies employed by energy suppliers lessened the impact of price increases for households but resulted in elevated retail prices when compared to other European countries.
Under the Programme for Government 2025, we have committed to commissioning an independent review into the speed and level of pass through from wholesale prices to retail prices, with an additional assessment of the overall price dynamics and an overall focus on the competitiveness of the Irish economy. This work will be progressed as a priority. My Department has also established a cross-Government National Energy Affordability Taskforce to identify, assess and implement measures that will enhance energy affordability for households and businesses, while delivering key renewable commitments and protecting security of supply and economic stability.
The taskforce has developed an interim report, which set out measures for consideration as part of the Budget 2026 process. This report has been published on Gov.ie, in advance of further analysis and the publication of the Energy Affordability Action Plan in 2026.
