Minister for Public Expenditure Paschal Donohoe said on Tuesday that signs inflation was falling are 'welcome' but that it would still have an effect on people’s standard of living this year. Photograph: iStockEnergy companies are facing renewed pressure from the Government to bring bills down, with Green Party leader Eamon Ryan saying prices need to fall “quicker” amid growing frustrations.
Mr Ryan was speaking after Minister for Finance Michael McGrath said there needed to be a “better explanation” and “more detail” from energy providers on the prices consumers are being charged. Despite a toughening in the rhetoric from Coalition Ministers, the Government is likely to face increased pressure itself from Sinn Féin, which will put down a Dáil motion on Wednesday calling for greater powers for the Commision for Regulation of Utilities , and argue that Government efforts to address windfall gains in the energy sector are “wholly inadequate”.
In a statement, a spokeswoman for Mr Ryan told The Irish Times that he had been meeting energy companies on a continuing basis and, while the market is competitive, “he has relayed his frustration, particularly over recent months, with continued high retail prices, considering that wholesale gas prices are significantly lower and falling”.