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Government must introduce windfall tax on big-profiting energy companies to support struggling households - Pearse Doherty TD

3 August, 2022 - by Pearse Doherty TD

Sinn Féin spokesperson on Finance Pearse Doherty TD has called on the government to introduce a windfall tax on big-profiting energy companies and redirect the money back into people’s pockets.

The Donegal TD said confirmation that Bord Gáis Energy saw its operating profits rise by 74% came in stark contrast to the thousands of households across the state struggling to get by during the cost of living crisis.

Teachta Doherty said:

“While ordinary people and working families are struggling with out-of-control utility bills, Bord Gáis profits for the first six months of this year rose by 74%.

“This is not right during a cost of living crisis when people are at the pin of their collar.

“There were 35 energy price increases last year alone.

“Bord Gáis has increased its price by 82% since October 2020 and its electricity price has gone up by 72%, increasing the average energy bill by €1,313. These increases are massive.

“We will soon be heading into the autumn and winter period when households will this year feel the pinch even more than ever before.

“We all know the war in Ukraine is driving up the price of fuel on top of the energy spike in the wholesale market last year.

“But it is simply unacceptable that shareholders are profiting from these difficulties when households are facing having to make the choice between heating their home or putting food on the table.

“I am reiterating Sinn Féin’s call for government to introduce a windfall tax on the excess profits of big energy companies, and to redirect that money back into people’s pockets.”

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