Galway West TD Mairéad Farrell has called for new taxes energy companies’ profits to help fund a reformed energy sector.
The Sinn Féin deputy said the Government needs to address the cost of energy prices in Ireland which are a major part of Ireland’s cost of living crisis.
“Ireland’s electricity costs far outstrip the European average, with Irish households paying a staggering €700 more,” says Farrell. “The corporate balance sheet has been a priority for far too long. It is time for this to change.”
She was speaking after a Sin Féin motion in the Dáil this week which called for an energy sector overhaul.
The party wants a more effective windfall tax on energy companies’ super profits, an overhaul of the electricity market's regulatory regime, a reformed mandate for the Commission for Regulation of Utilities (CRU ), improved retrofitting grants and enhanced public ownership of Ireland’s natural resources.
“With these proposals, we can take decisive action to alleviate the financial strain on households and ensure a more equitable and sustainable energy future for all.”
