Over 1.1 million people across Ireland will get €50 for free this Christmas if they are Electric Ireland customers.
The energy firm announced today that it will be adding the credit to its customers' accounts in light of “exceptional circumstances” surrounding energy prices.
Pay as you go customers will receive the credit this week, while bill pay customers will see it on their online accounts from January 2.
READ MORE: Met Eireann forecast 15C swing to end freeze amid ‘uncertainty’ over Christmas
The kind gesture comes as the utility company is to forgo profits from its residential electricity business.
Executive Director Pat Fenlon said: “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 and, 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.”
The firm is also increasing its Hardship Fund to €5 million.
Mr Fenlon added: “In addition, increasing the Electric Ireland Hardship Fund by €2 million to bring it to €5 million, will help ensure the fund is accessible to those most in need of support during the Winter months.
“We are committed to helping any of our customers who experience financial difficulty. 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.”
It comes after Electric Ireland increased electricity and gas prices three times this year.
The State-owned supplier announced it would hike residential electricity bills by 26.7 per cent and gas bills by 37.5 per cent from October 1. The rises equated to €37.20 per month on the average residential electricity bill and €42.99 per month on the average residential gas bill.
In July, it announced plans to increase residential electricity bills by 10.9 per cent and gas bills by 29.2 per cent from August 1. In March it announced plans to increase residential electricity prices by 23.4 per cent and gas prices by 24.8 per cent from May 1.
There were two further price increases in 2021.
The latest price hike was blamed on “unprecedented increases in international energy market prices”.
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