Sinn Féin spokesperson on Climate Justice, Senator Lynn Boylan, has criticised the government for their inaction to address the high cost of energy and added that the continuing rise in arrears for both households and businesses must serve as a wake-up call.

Senator Boylan was speaking after figures provided by the energy regulator showed that almost one in three businesses and one in four households were in arrears on their gas bills.

Senator Boylan said:

“The continuing trends of households and businesses falling into arrears are of great concern. Almost one in three (29%) businesses and one in four (23%) of households were in arrears on their gas bills for the period of July to September.

“Electricity and gas prices have doubled over the past two years, and this has put huge pressure on the budgets of both businesses and households.

“The level of arrears on electricity and gas bills is a clear indication that government policies are failing to protect both businesses and consumers, while big energy companies laugh their way to the bank.

“It is important to remember that these increases occurred in the warmest months of the year, and an extremely mild September. Now we are facing into the coldest and darkest months, and people are rightfully anxious about the period ahead. 

“This situation is unsustainable. Ireland remains an outlier in Europe, with our prices falling far slower than other EU member states according to the latest quarterly economic bulletin from the Central Bank. While we have seen some small price decreases lately, they go nowhere near far enough.

“Sinn Féin has introduced legislation to ensure that the regulator is fit for purpose, giving it additional powers to oversee hedging, which is cited as the reason for the lag in price decreases, and furthermore to investigate possible instances of anti-competitive behaviour.

“Significantly, our legislation would also mandate the CRU to specifically consider the affordability of energy in their policy direction, as well as the power to regulate standing charges, neither of which they are currently mandated to do.

“The Government must get to grips with this deteriorating situation urgently. I am calling on them to introduce these measures so that ordinary workers, families and hard-pressed businesses get the relief they so desperately need.”