Irish households are to have another €90 cut off their electricity bills this year, the energy regulator has announced.
The payment will be made in monthly installments of €12.73 from March to September.
For prepay meter customers, the payment will be credited daily to their prepayment meter.
Small Commercial customers will receive a monthly payment of €44.50 beginning in March until September 2023.
The credit comes on foot of a decision around the Public Service Obligation (PSO) levy in the area of energy prices. The levy is in place to fund the investment in renewable power generation. But this year, due to the higher gas prices, no support for these renewable generators is required from the PSO.
Commenting on the decision, CRU Director of Security of Supply and Wholesale, John Melvin Said: “This measure was announced as part of the 2022/23 PSO Levy decision due to the unprecedented global wholesale gas prices that we have seen in 2021 and 2022. Given that this was the first time we have experienced a negative PSO levy amount, the PSO payments will come as an additional relief to all electricity customers over the coming months.”
