Sinn Féin TD for Wicklow, John Brady, has slammed Fianna Fáil and Fine Gael for their inaction in the face of Ireland’s energy rip-off. Deputy Brady called on government to finally adopt Sinn Féin’s proposals to bring down the cost of energy, tackle price gouging and make life more affordable for ordinary people.
Teachta Brady said:
“Ireland has gone from having the lowest electricity prices in the EU to the highest. Not only did Fianna Fáil and Fine Gael do nothing to stop it, they have consistently upheld and empowered the system that caused it. This must change.
“Sinn Féin has the plan and ambition to end the rip-off for good. I am calling on the Government to stand with ordinary people and support Sinn Féin’s legislation to bring down energy prices, to tackle price gouging and to make life more affordable for ordinary people.
“The reality facing working people today is stark. Families are being squeezed yet again by soaring energy costs – skipping meals, struggling to keep the lights on and heat their homes. At the same time, energy companies are raking in millions in crisis driven profits. That is not fair. It is not sustainable. And it demands action.
“The government will claim that the eye-watering cost of energy here is inevitable – that it’s caused by a complex and technical set of factors that you or I simply couldn’t understand and that there are no real solutions.
“This is not the case. The rip off is not inevitable. It is a crisis that can be solved if this government actually made the political choice to do so.
“For years, Fianna Fáil and Fine Gael governments have chosen to ignore and push back Sinn Féin’s proposals to tackle this issue head on. Instead, they have chosen to prioritise the profits of energy companies and the energy needs of data centres over ordinary people who are just trying to keep the lights on and stay warm.
“When profits are generated from crises, the government has a responsibility to act. It must not be timid. Sinn Féin’s proposals are not radical but common-sense measures that would bring the necessary relief needed both now and over the long term.
“First, Sinn Féin would urgently reintroduce electricity credits to give the necessary breathing space to fix the fundamental flaws at the heart of Ireland’s energy market.
“The legislation Sinn Féin will table tomorrow will act as a vital tool in this process by giving the regulator the teeth to hold energy companies to account, to tackle price gouging and to prioritise energy affordability.
“Sinn Féin’s legislation gives the energy regulator:
– Enhanced powers to monitor and regulate hedging practices and to tackle price gouging, including the establishment of a new specific unit in the energy regulator
– Enhanced powers to monitor and sanction anti-competitive behaviour by energy companies. If energy companies are profiteering, they should be held to account for it.
– The bill would also enhance transparency through the introduction of a new duty for energy companies to provide data on their pricing strategies to the energy regulator and in turn for the energy regulator to examine and publicly report on it.
– The legislation also mandates the energy regulator to take energy affordability seriously by making it a policy priority rather than being treated as the afterthought it currently is.
“In addition to this legislation, Sinn Féin also has legislation which would give the regulator the power to regulate standing charges. As it stands, energy companies face zero regulation when it comes to these fixed costs that are whacked on people’s bills before even turning on a light. This is just another opportunity to rip households off.
“Sinn Féin also wants to see data centres pay their fair share through the restructuring of network charges and the PSO levy. Households should not be paying six to eight times more than data centres because they have sweetheart deals with energy giants meanwhile ordinary people are ripped off. That is outrageous and deeply unfair.
“Finally, the government should examine the introduction of a windfall tax so that gas and oil giants can’t continue to make billions off crisis driven profits off the back of war and suffering meanwhile ordinary people are simply expected to pay the price.
“This is ultimately about political choices. Will this government allow crisis profiteering to continue unchecked, or will they stand up for ordinary people? We cannot continue with a system where the public shoulders the pain while corporations pocket the gains.
“This is about fairness. It is about accountability. And it is about political will.
“Government must act now.”
ENDS