merrion street

I am acutely aware of the impact of recent increases in the cost of living on households. Increased energy costs have played a significant role in this, due to rising energy costs internationally. We have also seen inflation levels rise right across the economy, affecting not just our utility bills but also shopping and other household bills.

As part of the Government’s package of measures, we are increasing the electricity credit to all households, which I announced recently, to €200*. This is almost a doubling of what was originally envisaged, in recognition of increased pressures on consumers and householders. This will be implemented quickly.

The Bill is currently before the Oireachtas and will be enacted by the beginning of March, allowing the scheme to become operational by the end of March, with payments appearing on bills as they are then issued. It will be automatic. People will not need to apply for it.

In addition to work undertaken by my Department on the €200 electricity credit, we are also working on a range of initiatives to reduce utility bills and household costs – on a permanent basis.

The new National Retrofitting Scheme will see a significant increase in the number of free energy upgrades for those most at risk of energy poverty – from 177 upgrades per month last year to 400 per month. For those not eligible for a free energy upgrade, a special enhanced grant rate, equivalent to 80% of the typical cost, is now available to everyone for attic and cavity wall insulation, to immediately reduce household energy use.

I am extremely conscious of the role of Government in supporting citizens, especially those worst affected, through this difficult time. My officials and I remain committed to continuing our efforts to ensure that we, and the relevant Agencies under my remit, explore every avenue to identify and assist those most in need.

* A €176 credit is to be applied excluding VAT. This means that the total impact for each domestic electricity account will be €200.

ENDS