McGrath: Energy providers should pass on price drops to consumers

Energy providers have a moral obligation to pass on the fall in wholesale electricity prices to hard pressed consumers.

That’s the view of Tipperary TD Mattie McGrath from the Rural Independent Group.

New figures reveal wholesale electricity prices fell by 41% in the last three months of 2022, making them cheaper than they were before Russia’s invasion of Ukraine.

Deputy McGrath says the failure to pass on immediate price drops is totally unacceptable.

“I’m calling on them once again but they probably won’t listen. So I’m calling on the government to cap their profits.

“Why should these corporate companies literally do what they want and charge what they want and make excessive profits in a real time of hardship for people. It’s just not acceptable.”