Further savings on household energy bills proposed by government

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Electricity customers could be in line for refunds on their bills under plans being discussed by Cabinet.

Energy Secretary Eamon Ryan brings a memo to Cabinet that will allow the Utilities Regulation Commission (CRU) to place a negative public service obligation (PSO) on bills.

The move means customers could see their bills credited as the rate of renewable energy generated in the country increases in the years to come.

The PSO is used to fund the renewable energy sector, but where additional funding is not required, the CRU can now set a negative rate.

From October 1st, the tariff will be set to zero for the time being, so that electricity customers will save 58 euros next year.

The CRU will make a final decision on the PSO rate in July.

Mr Ryan is also bringing a memo to Cabinet outlining plans to address potential power grid shortages in the winter of 2023/2024.

The Minister has given CRU approval to direct EirGrid to purchase 450 MW of temporary power generators to address supply issues that may arise in two years

Cabinet are told the demands of a growing economy, including the significant number of data centers in Ireland, mean the grid will come under pressure in late 2023 and early 2024.

The closure of a number of unreliable power plants in the coming years also means more capacity is needed.

Meanwhile, ruling parties are expected to vote in favor of a Fine Gael proposal calling for middle-income tax cuts and tax increases.

In a move branded a “stunt” by some coalition partners, Fine Gael senators tabled a motion outlining the party’s priorities for the upcoming budget.

The motion calls for a personal tax cut “so the squeezed middle doesn’t lose most of the raises they get at income tax, USC, and PRSI.”

She is also calling for pension and welfare increases to address the cost-of-living crisis, which shows no sign of abating.

The motion says the cost of services should also be reduced to be in line with other EU countries. These include increasing universal childcare allowances for all parents, permanently cutting recent public transportation cuts, lowering college costs by lowering student fees, and increasing eligibility for student grants and lowering health care costs.

The Greens said they would back the Fine Gael motion in the Seanad.

https://www.independent.ie/irish-news/news/further-energy-bill-savings-for-householders-mooted-by-government-41749180.html Further savings on household energy bills proposed by government

Fry Electronics Team

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