Energy price cuts “nowhere near enough” says Murphy

People Before Profit TD Paul Murphy has called on the government to bring in “radical” measures to protect people from the cost of living crisis and escalating inflation.

Citing figures from the CSO that show inflation increased in August, Murphy cited “large monthly increases” in mortgage repayments, clothing and footwear, home heating oil, petrol and diesel.

Murphy said that the announced cuts to prices from Electric Ireland, Energia and Pinergy “does not cut it” considering the vast increases over that past year in the electricity and energy sector.

The Dublin South-West TD said that rising inflation is proof that Government measures “have not worked” and an “eco-socialist suite of measures” must be implemented during Budget 2024.

Figures from the CSO show that electricity prices are up 25% from last year; natural gas is up 40% from last year; and diesel and petrol prices rose again even before the increases in excise duty are taken into account.

He said “people in this country are being hammered every which way by the cost of living crisis. The price reductions from the energy companies are cold comfort to people who have seen their electricity bill explode during the past year,” noting that “prices are still massively inflated from this time last year.”

Discussing his solutions for the issue, Murphy called for caps on energy prices and on rents.

“This would mean energy companies cannot charge over a certain amount per unit of energy,” he claimed.

“We need retrofitting at no upfront cost to allow people to reduce their energy usage and to renationalise the energy system.”

“The government’s soft touch approach and measures do not cut it for people. This crisis is not going away. We need radical action to take on this crisis.”

Murphy showed his support for the Cost Of Living Coalition protest which is due to take place on October 7th, saying that the public “need to a clear message to the government that radical action is needed.”