Question 1

What does the Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023 do?

Accepted Answer

Caps electricity revenues for wind, solar, hydro (€120/MWh) and other non-gas generators from December 2022–June 2023; excess revenues paid to collection agent for redistribution to consumers. Requires producers, intermediaries and traders to calculate monthly surplus revenues, submit returns, and pay liabilities by December 2023; enforced by competent authority with powers to audit, revise assessments and prosecute. Establishes Market Cap Fund managed by collection agent (EirGrid) to receive capped revenues and disburse them via schemes to assist electricity consumers facing high energy prices.

Question 2

What stage is the Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023 at?

Accepted Answer

As of 30 Aug 2024, the Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023 is at Enacted. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023?

Accepted Answer

The Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023 was sponsored by Minister for Environment, Climate and Communications, and was introduced on 31 Aug 2023.

Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill 2023

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