Sinn Féin spokesperson on Finance, Pearse Doherty TD, has called on the government to move quickly to introduce energy price certainty by reversing its opposition to energy price caps.

Teachta Doherty said:

“A report today that the government is considering a U-turn on capping energy bills to provide price certainty for households is welcome but they need to move quickly on this.

“While energy credits provided by government have provided some relief, there is still enormous uncertainty for workers and families when their energy bills land through their letterboxes as the costly reality of freezing temperatures hits home.

“That level of uncertainty was entirely predictable. In our Alternative Budget set out in September, Sinn Féin introduced proposals that would have provided certainty on energy prices.

“Sinn Féin proposed a time-limited proposal to reduce and cap electricity prices for a period of five months, until the end of February, to support struggling households through the winter months. 

“Similar measures have been successfully adopted in several European states, such as Germany, but were opposed every step of the way by the government here.

“Instead, Fianna Fáil, Fine Gael and the Green Party, took the wrong approach and stood in the way of energy market reform, decoupling of gas and electricity prices, windfall taxes and price caps; until the EU began to move on each of those issues.

“The government has opposed Sinn Féin solutions to provide relief and certainty during the cost of living crisis at every turn. It has ignored proposals to protect renters by banning rent increases, to make homeownership more affordable and to cap the cost of energy.

“Any change in approach to energy price caps will come too late for those already struggling but could provide real relief and energy price certainty in the coming months if the government accepts that they got it wrong and acts now to rectify their opposition to price caps.”