Electric Ireland announced that it is forgoing profit from its residential electricity business. A €50 credit will be applied to each existing Electric Ireland residential electricity customer and the Electric Ireland Hardship Fund will be increased by €2 million to €5 million.
increased gas prices
Pat Fenlon, Executive Director, of Electric Ireland said, “2022 has been a very challenging year for energy customers, primarily due to increases in international gas prices."
"We are acutely aware of customers' pressures this Winter and, recognizing 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.”
manageable payment plan
“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.”
Mr. Fenlon ended the announcement with an assurance to customers, “We are committed to helping any of our customers who experience financial difficulty. As always, we encourage any Electric Ireland customer who has difficulty paying their energy bill to engage with us and we will work with them to put a manageable payment plan in place.”
Electric Ireland Hardship Fund
Since December 2020, Electric Ireland has committed €8 million in funds to help customers experiencing difficulty paying energy bills. The Electric Ireland Hardship Fund is €5 million following the € 2 million increase announced today, 19th December 2022.
- June 2022- Electric Ireland announced a €3 Million Hardship Fund
- March 2021 - Electric Ireland provided a €2 Million Fund due to the impact of the Covid-19 pandemic and increased energy costs.
- December 2020 - Electric Ireland gave €1 Million to 10,000 registered vulnerable customers.
- December 2022 - Electric Ireland has donated €200,000 to the Society of St. Vincent de Paul (SVP).
Electric Ireland Customer Supports
- A disconnection moratorium is in place for the coming months and will continue until the end of February for all residential customers, and until the end of March 2023 for those who are registered as vulnerable customers, as mandated by the Commission for Regulation of Utilities.
- Electric Ireland engages with all residential customers who have trouble paying their bills in line with the voluntary Industry Energy Engage Code. They encourage any Electric Ireland customer who has difficulty paying their energy bill to contact and will work with them to put in place a manageable payment plan. Electric Ireland has thousands of these payment plans in place at present.
- Electric Ireland works with Fuel Poor customers who sign up for the Household Budget Scheme, or Industry Solution Prepayment Meter as a way to pay their energy bills and also apply a 5% discount.
- Electric Ireland provides several flexible payment options, including an Equaliser product that enables customers to spread their energy costs in equal payments across the year or to take a payment holiday by agreeing on a plan to pay their bills over eleven months instead of twelve.
lowest standard unit rate
Each electricity supplier sets its standard rate, and their quoted discounts are applied from that base.
Electric Ireland is committed to providing the best value to customers and currently offers the lowest standard unit rate in the market for electricity bills, with an available additional enduring discount rate of up to 8.5% for direct debit and e-billing customers, which reduces those unit rates further.
