Government must tackle €250 million ESB ‘price gouging’ says FF’s Cowen

Energy industry insiders claim the semi-state body has deliberately driven up wholesale prices, resulting in steeper tariffs for customers

‘When the ESB controls about half the power generation on the island it sets the tone in wholesale markets. The smaller power generators were just happy beneficiaries of this practice’. Picture: Getty

The government will have to provide more subsidies to electricity customers if it does not deal with the “failings” in ESB and state electricity regulators, Fianna Fáil TD Barry Cowen has claimed.

The ESB has recently been accused of abusing its dominant market position and price-gouging consumers to the tune of €250 million by driving up wholesale energy prices over recent months to unprecedented levels.

It comes as the cabinet is due to sign off ...