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Verbatim report of proceedings
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Wednesday, 27 November 2024 - Strasbourg

Rise of energy prices and fighting energy poverty (debate)
MPphoto
 

  Seán Kelly (PPE). – Madam President, tackling the rise in energy prices must be an economic and social priority. Families are struggling to heat their homes and European businesses are finding it harder to stay competitive.

To address this, we must first identify the root causes of high bills. The recent energy crisis has shown us the dangers of our reliance on volatile fossil fuels. The cost of imported fuels dictate Europe's electricity prices, undermining our competitiveness and leaving us exposed to geopolitical price shocks.

Additionally, taxes and levies account for a significant portion of our energy bills. While some are essential for infrastructure and renewable investment, we must ensure efficiency to relieve the burden on consumers and industries as far as possible.

The solution to the first part of the problem is clear: we must reduce and eventually eliminate the role of volatile fossil fuel markets in setting out electricity prices. In Ireland in October, the day with the most renewables on the system had an average price of nearly EUR 90 lower than the day with the least renewables on the system. Our competitiveness can no longer be at the mercy of external energy supplies.

At the same time, we cannot ignore another key challenge: modernising our electricity grid. I look forward to working with incoming Commissioner Dan Jørgensen to ensure that Europe delivers affordable, reliable and sustainable energy for all in a modernised grid. Finally, thank the outgoing Commissioner Kadri Simson for all her good work, cooperation and friendship.

Mo cheol thú agus go n-éirí go geal leat.

 
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