DUBLIN, Ireland: Electric Ireland will raise combined electric and gas prices for 1.2 million Irish households by 477 euros this week.
In response, TD Richard Boyd Barrett has criticized the "shameless profiteering" of energy companies increasing prices while posting large profits.
Bord Gais Energy reported profits of 39.5 million euros during the first half of 2022 up 74 percent from 2021.
Similarly, Electric Ireland posted profits of 679 million euros in 2021 up 10 percent over 2020.
"These companies are making staggering levels of profit while, at the same time, their customers are being inflicted with utterly unaffordable increases. We're facing a really bleak winter for huge numbers of pensioners, workers and people on modest incomes who cannot absorb the level of increases we are now facing," said Boyd Barrett, as quoted by the Irish Mirror.
He has further asked the Government to put price controls in place, along with a windfall tax on energy companies.
Also seeking a windfall profit tax is Ireland South MEP, Fianna Fail's Billy Kelleher, who noted, "We can't have a situation where publicly owned companies [and] privately-owned companies are profiteering excessively on the backs of ordinary people during this extraordinary crisis."