Windfall Tax on the Excess Profits of Energy Companies: Motion [Private Members]
Dail Éireann — 2026-09-30
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Seamus Healy (IND), Tipperary South

Families throughout the country are experiencing a severe cost-of-living crisis. In the teeth of this crisis, the Government withdrew all cost-of-living supports this year, leaving families as much as €1,400 worse off. The Government must now introduce a windfall profits tax on energy companies and price caps on petrol, diesel, home heating oil, electricity and gas to support families with the cost of energy. We already have the highest retail electricity prices in Europe at €480 a year more than our European neighbours. Now, eight companies have told us they will further increase prices in the coming period. The cost of 1,000 litres of home heating oil is now €1,600, which is up €600 on last year, and 500,000 households are in arrears on their electricity and gas bills. In 2023 the Government introduced a windfall profits tax on energy companies and a cap on market revenue which brought in €456 million. The same should happen now.
Energy companies are making huge profits. The eight largest oil companies, for instance, made $93 billion profit in three months. ESB made €445 million in the first six months of this year, Energia made €70 million in the second quarter of this year and Bord Gais recorded profits of €50 million in the first half of 2026. Energy companies are making bumper profits with gold-plated salaries for executives. We must follow the lead of Portugal, which has already introduced a windfall profits tax. Germany, Spain, Italy, Poland and Austria are also moving in the same direction. Hard-pressed families need a break and the Government should use the proceeds of the windfall profits tax to give them a break and introduce an energy credit of €500.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-09-30/debate/main
Retrieved: 2026-10-05T01:00:59+00:00
Sitting date: 2026-09-30