Further energy bill savings for householders mooted by Government

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

nergy Minister Eamon Ryan is bringing a memo to Cabinet which will allow the Commission for Regulation of Utilities (CRU) to set a negative public service obligation (PSO) on bills.

The move means customers could see their bills credited if the rate of renewable energy created in the country increases in the coming years.

The PSO is used to fund the renewable energy sector but if it does not need additional funding the CRU can now set a negative rate.

The rate has been provisionally earmarked to be set at zero from October 1, which means electricity customers will save €58 on their bills next year.

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

Mr Ryan is also bringing a memo to Cabinet outlining plans for addressing potential electricity grid shortages in winter 2023/2024.

The minister has given the CRU consent to direct EirGrid to purchase 450MW of temporary electricity generators to address supply issues that could arise in two years’ time

The Cabinet will be told demands from a growing economy, including the significant number of data centres in Ireland, means the grid will come under strain in late 2023 and early 2024.

A number of unreliable power plants being closed over the coming years also means more capacity is needed.

Meanwhile, the Government parties are expected to vote in favour of a Fine Gael motion calling for tax cuts for middle-income earners and tax hikes.

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

The motion calls for a personal tax cut “so squeezed middle don’t lose most of any pay increase they get in income tax, USC and PRSI”.

It also calls for pension and welfare increases to address the cost of living crisis that shows no sign of abating.

The motion says there should also be reductions in the cost of services so they would be in line with other EU countries. This would include increasing universal childcare subsidies for all parents, making the recent reductions in public transport permanent, lowering the cost of college through reducing the student contribution and increasing eligibility for student grants and reducing the cost of healthcare.

The Green Party said it will be supporting the Fine Gael motion in the Seanad.



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