As part of a public service obligation to subsidise renewable energy, electricity customers will receive a payment of €89.10 from the government.
The payment will be made in seven installments of €12.73 starting on March 1 either on customers’ bills or on their prepay metre, according to the Commission for the Regulation of Utilities (CRU).
All electricity customers are subject to the PSO levy, a compelled fee for renewable energy.
Falling gas prices may cause wholesale electricity prices to decrease. Because they don’t require gas to operate, renewable generators require more funding to supply electricity to the wholesale market. This typically results in customers paying a higher PSO levy on their bills.
The price of the levy and the cost of wholesale electricity are therefore inversely related.
The levy is not required to support renewable generators because energy prices have risen dramatically in recent months.
To claim the payment, customers need not take any action.