Electric Ireland is giving its residential customers a €50 credit due to the "exceptional circumstances” surrounding energy prices.
The State’s largest electricity supplier to the residential sector says its 1.1 million-plus customers will receive the €50 over the next two weeks, although the credit will not apply for gas customers. Electric Ireland will also increase funding for the Electric Ireland Hardship Fund to a total of €5million.
Pat Fenlon, the company’s executive director, said in a statement: “2022 has been a very challenging year for energy customers, primarily as a result of increases in international gas prices. We are acutely aware of the pressures that customers face this winter.
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“Recognising these exceptional circumstances, Electric Ireland is forgoing profit from its residential electricity business. Electric Ireland’s residential customers can each expect to receive €50 credit in the New Year," he added.
Mr Fenlon said the company was committed to helping any of its customers who experience financial difficulty. He added: "As always, we encourage any Electric Ireland customer who has difficulty in paying their energy bill to engage with us and we will work with them to put a manageable payment plan in place."
Electric Ireland is the latest energy provider to forgo profits due to the energy crisis, with SSE Airtricity also announcing in November that it would abandon profits to help vulnerable customers. Electric Ireland last increased its residential electricity and gas bills from 1 October after also increasing them in August.
Its electricity bills increased by 26.7% and residential gas bills by 37.5%. At the time, Electric Ireland blamed the price hikes on unprecedented increases in international energy market prices and the subsequent impact on wholesale gas prices.
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