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Government inaction sees households face soaring energy bills as wholesale price of electricity plunges – Pearse Doherty TD

22 May, 2023 - by Pearse Doherty TD

Sinn Féin spokesperson on Finance, Pearse Doherty TD, has said that Government has left households exposed to rip-off electricity bills as wholesale prices continue to fall.

The Donegal TD was speaking as figures released by the CSO show that wholesale electricity prices have fallen by 57 percent since March 2022 while household bills have soared by 63 percent.

Speaking today, Teachta Doherty said:

“Workers and families have seen the price of electricity soar in the past year.

“The massive increase in energy costs has squeezed the income of Irish households with many forced into financial distress.

“Figures released today by the CSO show that the wholesale price of electricity has fallen by 14 percent in the past month, and by 57 percent since March of last year.

“Yet since March of last year, household electricity prices have increased by 63 percent.

“Let’s be clear – households are being price-gouged while wholesale prices fall.

“The Government have allowed this rip-off to continue by failing to reduce and cap electricity prices.

“This action has been taken across Europe – in Germany, France, the Netherlands, Austria and elsewhere.

“Despite Government spin, tackling rip-off electricity prices has been a priority across Europe.

“But as a result of Government inaction, Irish households continue to struggle under soaring costs.”

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