Energy firms' profits 'cannot be used to offset bills'

Hearing of the Oireachtas Environment Committee to be told exceptional gains by energy firms are not cash-related items
Energy firms' profits 'cannot be used to offset bills'

Energy firms say significant increases in customers’ bills have been driven by extraordinary and sustained increases in the wholesale price of electricity.

Extraordinary profits earned by the ESB this year cannot be used to offset higher bills experienced by homes and businesses, TDs will be told on Tuesday.

A delegation from Electric Ireland and the ESB will defend their failure to use record profits made this year to lower customer bills at a hearing of the Oireachtas Environment Committee.

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