IFA’s Inputs Project Team Leader James McCarthy has called for an immediate review of the performance of the energy regulator, following the failure of energy companies to fully pass back savings to businesses and consumers, as a result of massive reductions in oil and gas prices.
He said, “The CER is failing to deliver on its responsibility of improving the competitiveness of the energy sector. This is costing hard-pressed farm businesses and families. Each year farmers spend over €500m on diesel fuel, electricity and other energy. It is not acceptable that energy prices rise rapidly when oil and gas prices increase, but then fail to go down quickly when prices fall.”
Mr. McCarthy called on Minister for Energy, Alex White TD to intervene with the CER and ensure that costs are reduced in line with international oil and gas prices.