SINN FÉIN spokesperson on Finance, Pearse Doherty TD, has said new CSO data shows electricity companies are being allowed to rip people off with sky-high bills even though wholesale electricity prices are down 24 per cent over the last 12 months.
The Donegal TD called for a cost of living package to be prepared that includes energy credits.
Teachta Doherty said: “Consumers are being fleeced – this latest damning evidence shows just how much electricity companies are being allowed to rip off the Irish public.
“Wholesale electricity prices are down 24 per cent over the last 12 months, yet most people have seen the cost of their electricity bills go up in that time.
“There is no justification for bills to be as high as they are today for ordinary workers and families when we look at the prices being paid by these companies in the wholesale market.
“The simple fact is they are being allowed to not pass on the benefit to their customers.
“Instead, they are laughing all the way to the bank – pocketing the difference as profit.
“All while the government sits back and allows this to happen.”
Deputy Doherty said electricity prices are almost twice as high as they were before Russia invaded Ukraine four years ago.
“Is it any wonder 300,000 households are now behind on their electricity bill and many more struggling to keep up?,” he asked.
“The government needs to admit they got this badly wrong and reintroduce energy credit as part of a cost of living package.
“Energy credit takes the pressure off people and gives the government time to tackle runaway electricity costs by fixing the electricity pricing system and holding these companies to account.
“The government needs to end the rip-off and get prices under control.”
