Gas and electricity customers not benefitting from global price decreases – O’Mahony

Fine Gael TD for Mayo and chairman of the Joint Oireachtas Committee on Transport and Communication, John O’Mahony, has called for the energy regulator and energy companies to appear before the committee to explain why reductions in oil and gas prices are not being passed on to gas and electricity customers.

O’Mahony said: “We have seen a reduction in petrol and diesel prices at the pumps and yet we are not seeing a corresponding reduction in energy bills. Oil and gas are available at cheaper rates than in the past. We need to know why these savings are not being passed onto customers.

“I propose to raise this issue at the Oireachtas Committee on Transport and Communication and would like the energy regulator and energy companies to explain their position.

“Over the years we have seen our energy bills increase in direct response to increases in global oil and gas prices. By this logic, our bills should come down when the price of oil decreases as it has significantly in recent months. However, up to this point there has been no reduction. I believe the energy regulator and energy companies need to explain to the committee why these savings are not being passed on.”

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