2007 law on maximum price orders must be used to help struggling households through cost of living crisis
- Regulators missing in action on escalating price rises
- European Commission has confirmed energy caps are an option for Ireland
- Enterprise Committee hearings on maximum price orders requested
Labour’s Finance and Public Expenditure spokesperson Ged Nash has criticised the government for failing to use the laws available to help manage the cost of living crisis.
Deputy Nash said:
“With households across the country feeling the pain at the pumps and regulators appearing to be unfamiliar with their mandate to protect the interest of consumers, it is high time the government reached for the maximum price orders tool in the 2007 Consumer Protection Act.
“With an anticipated 25% rise in some electricity bills on the way, it is alarming that the ESRI has reported that this could see up to 43% of Irish households in energy poverty as a direct consequence.
“It is important to note that the European Commission indicated in May that energy price caps which are a matter for the energy regulator and government can be an option for countries like Ireland that are not directly linked to the European grid.
“I have written today to the Chair of the Joint Oireachtas Committee on Enterprise to request that the Competition and Consumer Protection Authority be brought before the Committee to interrogate the issue of maximum price orders on everyday essentials during this emergency period.”