“Renewed Pressure from Irish Government on Energy Companies to Lower Prices”

The Irish Government is putting pressure on energy companies to lower consumer bills. Green Party leader Eamon Ryan has urged prices to drop even faster amidst growing frustration, and Finance Minister Michael McGrath has called for more transparency from providers on prices. Despite this, the Government is likely to receive pressure from Sinn Féin to increase the Commission for Regulation of Utilities’ power. Ryan has also expressed his frustration with continued high retail prices despite significantly lower and falling wholesale gas prices. While hedging arrangements can delay market changes, he and others want to see retail costs falling quicker for consumers. Inflation rates for groceries and energy prices have fallen slightly but remain too high for many people.