Electricity customers could get money back on their bills under plans being considered by Cabinet this morning.
Minister Eamon Ryan is proposing to allow the PSO levy to be set at a negative number to reimburse households.
The Public Service Obligation Levy will be set to zero from October 1st meaning households won’t have to pay the roughly 58 euro charge.
Minister Eamon Ryan will look to give the Commission for Regulation of Utilities permission to set that to a negative number, meaning a cut in bills for householders.
The Minister will also give permission for Eirgrid to buy 450 megawatts of temporary energy generators for the winter of 2023/24 to ensure energy security for that winter.
However, he’ll tell colleagues the knock on cost to consumers will be offset by significant reductions in the PSO levy with a final amount to be published later.
Minister Ryan will attend Cabinet virtually after testing positive for Covid-19 yesterday.
