President signs bill to allow €200 energy credit be distributed to households

President Michael D Higgins has signed a bill into law, which paves the way for an energy credit to be distributed to all households.

The credit, which is €200 (€176.22 excluding VAT), is an initiative by the Government aimed at helping households cope with rising cost of living due to inflation.

All domestic energy customers will receive the credit, which will be automatically applied to their bills from next month and they do not need to contact their provider.

The Government said depending on the billing cycle for each customer the credit may not be applied until May.

Up to 2.25 million domestic energy accounts are to receive the credit.

The primary legislation needed to establish the scheme, and to enable the credit to be made as soon as possible, was fast-tracked by both the Office of the Attorney General and the Oireachtas.

“The Government is acutely aware of recent increases in the cost of living and the impact of rising inflation right across the economy,” said the Minister for Environment, Climate and Communications.

“Increased energy costs have played a significant role in this, due to rising energy costs internationally and, more recently, due to the crisis in Ukraine,” Eamon Ryan added.

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