86. Deputy Jennifer Whitmore asked the Minister for Climate, Energy and the Environment for an update on the CRU price-gouging investigation with regard to energy prices; and if he will make a statement on the matter. [27417/26]

Sentiment score: 0.04

Could I have an update on the CRU price-gouging investigation that the Minister called for with regard to energy and electricity prices?

Sentiment score: 0.27

We are all aware that hundreds of thousands of households are finding it difficult to pay their energy bills and what we saw last week is a direct result of that. An estimated 315,000 people are in arrears on their electricity bills. Many of them have been in arrears for more than 19 months. These are people who are still not able to catch up with the incredible price shocks we experienced after the Ukraine invasion. One of the roles of the CRU is to protect customers. The Minister has asked the CRU to look at the pass through of wholesale prices. Right now, wholesale prices are 72% cheaper than they were at the peak in August 2022. They are 72% cheaper, but our retail prices are not 72% lower. In fact, they are higher. We have not seen any reduction, and I do not think hedging can be used as an excuse. Will the Minister of State provide an update on what the CRU has done and when it will it be publishing its report?

Sentiment score: 0.02

It is clear that the Minister of State has had no update from the CRU on this. He provided no information or timeline on its examination of price gouging. It is incredible that six months after the IEA highlighted that wholesale electricity price reductions were not being passed on to Irish consumers at the same rate as other consumers across Europe and that five months after the Minister wrote to the CRU asking it to conduct an investigation into price gouging, the CRU cannot even give the Minister of State an update as to what it has done or when it will conclude that investigation. What is the CRU doing? It is meant to be protecting consumers. Irish consumers are facing another energy shock when it comes to electricity prices. They are still trying to get over the incredible electricity prices that resulted from the Ukraine war. The CRU is asleep at the wheel here. I ask that the Minister of State meet with the CRU and direct it to immediately conduct this investigation into price gouging. We cannot wait any longer.

Sentiment score: -0.09