CSO figures underscore the need for targeted energy credits and accelerated renewable deployment
CSO figures underscore the need for targeted energy credits and accelerated renewable deployment - The Labour Party
Climate and Energy Spokesperson Ciarán Ahern TD has reiterated Labour’s call for targeted energy credits in Budget 2027 in response to figures released by the CSO today showing a 77% increase in wholesale electricity costs when compared with the same period last year.
Deputy Ahern said struggling households must be offered immediate protection amid the global fuel price shock arising out of the war in Iran, and that only by accelerating the roll-out of renewable energy infrastructure can we protect ourselves against future fossil fuel market chaos and bring down household bills.
Deputy Ahern said:
“Figures released by the CSO today underscore the case for Labour’s call for targeted energy credits. Households up and down the country are already at breaking point with the perpetual cost-of-living. Government cannot throw them to the wolves like they did in last year’s budget. The withdrawal of energy credits pushed more and more families into energy poverty, with more than half a million gas and electricity accounts now in arrears. Budget 2026 must provide targeted supports to help the most vulnerable or else this government will be facing into a winter of discontent.
“The energy credits were intended as a temporary measure while Government worked to address the underlying causes of high energy costs and poor affordability. The problem is that those underlying issues remain completely unaddressed. We warned that withdrawing assistance without addressing affordability would leave many families unable to keep up with their bills. Government ignored those warnings and people are now paying the price.
“The bigger picture that these figures shine a light on is the urgent need to reduce out dependence on imported, volatile and expensive fossil fuels. We have enormous renewable energy generation potential in Ireland that the government has shown virtually no sense of urgency in deploying. Instead they’re leaving us massively over-exposed to the whims of Donald Trump and Benajamin Netanyahu, and the prices people are paying for energy is skyrocketing as a consequence.
“Budget 2027 will be a watershed moment for this government in showing where their priorities lie. Labour is calling for targeted energy credits of at least €400 to give immediate protection to our most vulnerable households, alongside the investment required to significantly accelerate the roll-out of cheap renewable energy in Ireland. Struggling households urgently need support in the short-term, and we need to end our exposure to volatile international fossil fuel markets so that we’re protected from future price shocks.”