Bord Gáis Energy profits have risen by 74% for the first six months of 2022, sparking calls for the introduction of windfall tax.

Sinn Féin representative Pearse Doherty has urged the government to take action with a windfall tax on big-profiting energy companies, while also redirecting this money into those struggling with the cost of living crisis.

Teachta Doherty said: "While ordinary people and working families are struggling with out-of-control utility bills, Bord Gáis profits for the first six months of this year rose by 74%.

-- Advertisement --

"This is not right during a cost of living crisis when people are at the pin of their collar.

"There were 35 energy price increases last year alone.

"Bord Gáis has increased its price by 82% since October 2020 and its electricity price has gone up by 72%, increasing the average energy bill by €1,313. These increases are massive.

"We will soon be heading into the autumn and winter period when households will this year feel the pinch even more than ever before.

"We all know the war in Ukraine is driving up the price of fuel on top of the energy spike in the wholesale market last year.

"But it is simply unacceptable that shareholders are profiting from these difficulties when households are facing having to make the choice between heating their home or putting food on the table.

"I am reiterating Sinn Féin's call for government to introduce a windfall tax on the excess profits of big energy companies, and to redirect that money back into people's pockets."