The Gathering
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Who are the guests featured in this episode?
Welcome back. It is time for our Friday gathering. This week I'm joined from our Galway studio by Alan Dillon, Minister of State for Employment, Small Business and Retail and the Circular Economy, also Fine Gael TD for Mayo. And here in studio by Jennifer Whitmore, Social Democrat spokesperson for Climate, Environment and Energy and TD for Wicklow. We're also joined by Jennifer Bray, Sunday Times political editor and Christina Finn, political editor with thejournal.ie. Good morning. You're all very welcome. Thanks a million for joining us. Alan, I might start with you first, if I may. Eurostat published new research on Wednesday confirming that Ireland has the highest cost for electricity in the EU.
In the EU. An issue that shows no sign of going away. So what are the government going to do about lowering those high electricity costs?
Well, firstly to say, David, is that we fully recognise that more families are under pressure, particularly when it comes to energy costs. We see energy prices now have increased across Europe, driven by international gas and oil markets. These are not decisions taken by government buildings. And that's precisely why the government has already delivered one of the largest support packages across the EU, over 750 million euros.
None of which will address electricity costs.
Well, certainly what that will do is it will shield households, it will reduce their bills where possible, but it also provides support when needed the most and it's targeted. If you look at why our electricity costs are so high, wholesale gas prices have a major impact on energy prices in Ireland. And while hedging can cushion households from full volatility, it doesn't remove it completely. So... That's why we may see suppliers' price increases in the coming months. And I know Minister O'Brien has written to the energy suppliers to make them aware that there is a real pinch point and challenge around Ireland's exposure to customers and to insulate them in some way. But also the CRU are also reviewing...
competition within the retail market. And we're working with the CCPC to ensure there's better transparency in regards to how bills are put together.
Well, I'm sure that'll be welcome. But you mentioned high gas prices. Everywhere in Europe is facing high gas prices and we're at the highest electricity prices.
What recent research confirms about Ireland's electricity costs?
So, you know, the high gas price doesn't explain why we have the highest electricity prices.
And as I said, we are undertaking a piece of work with the CRU to look at the structural costs associated with electricity because it's really important for customers and households that they're aware of what they're actually paying for. And that's why also we're investing really significant money. money over 19 billion euros in enhancing our grid to bring more renewable energies on stream while also investing record numbers in home retrofitting to support households to make them more warmer but also cheaper to heat and to run and you see through the warmer home schemes which are fully funded through SAAI we have a target of over 73,000 homes that we want to retrofit by the end of the year And we'll continue to make substantial efforts in regards to home retrofits.
We've increased the grants for heat pumps, for attic insulation and for wall insulation. And they're making a huge impact. And I think that's really, really important to recognise.
All very welcome. Jennifer Whitmore, why does Ireland have the highest electricity prices in Europe?
There are a number of reasons for it, and I can absolutely agree with the minister. It's not this government's fault that we're seeing these kind of energy shocks. But what I will say, it is this government's fault that they have not helped households become a lot more resilient to them. We saw these shocks after the invasion in Ukraine, and we have not seen any response. real measures from government to insulate homes from shocks. And now people are facing it again.
Well, they've increased the fuel allowance and they've cut exhaust duty on petrol and diesel, which helps most households.
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Chapters
5 chapters
1
Who are the guests featured in this episode?
0:00–2:30
2
What recent research confirms about Ireland's electricity costs?
2:30–6:41
3
How is the government addressing high electricity prices?
6:41–18:52
4
Why does Ireland have the highest electricity prices in Europe?
18:52–22:46
5
What measures are proposed to help households with energy costs?
22:46–28:32