Energy suppliers not making 'excessive' profits from soaring gas and electricity prices, watchdog says

The Commission for Regulation of Utilities said competition in Ireland’s retail electricity and gas markets was functioning reasonably well and generating rivalry among companies.

Suppliers are not making “excessive” profits from sky-high electricity and gas bills, while not all households are “benefiting” from chances to reduce their energy costs, the energy regulator has said.

In an interim report requested by the Government, the Commission for Regulation of Utilities (CRU) said competition in Ireland’s retail electricity and gas markets was functioning reasonably well and generating rivalry among companies.