McGrath: Energy companies have not given reason for why prices remain high

Finance Minister Michael McGrath said he understood the complexities around how companies purchased energy and that there was a lag in the 'pass-through' of price decreases, but he warned this adjustment was taking too long in Ireland.

Energy companies in Ireland have failed to provide an adequate explanation why consumer prices are not falling in response to a dramatic reduction in wholesale costs, the Finance Minister has said.

Michael McGrath said he understood the complexities around how companies purchased energy and that there was a lag in the "pass-through" of price decreases, but he warned this adjustment was taking too long in Ireland.