Electricity customers are to receive €90 off their bills over the next seven months, the utilities watchdog has said
ELECTRICITY CUSTOMERS WILL receive a €89.10 payment in line with a Public Service Obligation to subsidise renewable energy.
The Commission for the Regulation of Utilities has said the payment will be made in seven instalments of €12.73, either on customers’ bills or on their prepay meter, from 1 March.Advertisement Wholesale electricity prices can fall due to falling gas prices. Renewable generators therefore need more funding to provide electricity to the wholesale market, as they do not need gas to run. This generally means customers have to pay a higher PSO levy on their bills.
In other words, there is an inverse relationship between the cost of the levy and wholesale electricity prices. Since energy prices have soared in the past year, the levy is not needed to support renewable generators.Making a difference A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.
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