Estimates suggested the additional yield from a windfall tax could be in the region of €90 million, €108 million and €271 million respectively for a full year. Photo: Bryan O Brien / The Irish Times Keywords: bills poverty energy cost of living fuel costs inflation heating gas oil electricity hot water cost bills thermostats regulation ebbThere have been renewed Opposition calls for a windfall tax on energy companies in the wake of a 74 per cent growth in profits at Bord Gáis Energy.
Sinn Féin finance spokesman Pearse Doherty said Bord Gáis Energy has brought in “massive” increases in the price of gas and electricity and households will “feel the pinch” more than ever before this autumn and winter.“We all know the war in Ukraine is driving up the price of fuel on top of the energy spike in the wholesale market last year.
Labour’s Finance spokesman Ged Nash said the rise in profits for energy companies at a time when customers have been “slapped” with price hikes makes a persuasive case for a windfall tax.Last month Mr Nash tabled a Dáil question on how much the exchequer would yield if there was a new windfall profits tax on energy providers in scenarios where the tax rate on their profits was increased to 25 per cent; 27.5 per cent; or 50 per cent.
People Before Profit TD Richard Boyd Barrett said it is “absolutely obscene” that utility company customers are seeing “crippling” price increases at a time when there is a “staggering rise in profits being made”.“We need to put the need of people to have affordable heat and electricity ahead of the right of these companies to make super profits,” the Dún Laoghaire TD said.
I'm sure they'll look into that and crickets, meanwhile for the plebs..
We have more natural resources around our Island than most of Europe yet Irish people get Zero benefit from it unless Ur an Irish Politician . Norwegian People get a rebate For theirs while Irish people get the Shaft and Private Companies rake in Billions .Our Country is corrupt
And despite legislation being in place, they still have not released a FIT figure for micro renewables such as Solar PV. It would be great if we had a Green party member as minister of the environment.....
And with 50% higher prices than the rest of Europe , it should be set at 90%
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Source: IrishTimes - 🏆 3. / 98 Read more »