Budget 2026: Energy Cost Credits

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mathepac

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It looks like there'll be no energy credits for struggling consumers in the forthcoming budget despite the fact reported in last Saturday's Irish Times that the Comptroller & Auditor General's "finding that almost €190 million in levies collected from electricity companies during the energy crisis is still to be spent. That money was taken from the windfall profits the big providers enjoyed at the time - and was meant to help customers deal with high prices.

"The report finds that only €3.9 millions been spent so far - to fund solar installation grants.

"The C&AG notes that EirGrid collected and holds the levies - and is still awaiting instruction on what to do with the money from the Department of Climate, Energy and the Environment."

In the absence of any other source of funds to help lower consumer energy costs, isn't it now time for the Department to issue such instructions?

Irish Times, Saturday October 4th 2025, Page 8, OVERHEARD, Paul Colgan.
 
Where would the energy cost credits come from? That's right- from our taxes.
What is the national debt at the moment?
You want it to increase- or decrease?
 
mathepac said:
let's use it for its intended purpose, to benefit those who need it most
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So you’re not in favour of universal energy credits then. I agree with you. There are already schemes to help those that need it most. Energy credits for everyone is just inflationary and serves little purpose.
 
No issue @Purple, the energy credits applied to the recipients of certain state benefits are good, but with retail electricity prices rising maybe the €190 million+ interest could be paid out as credits to those consumers for the winter months. Which begs the questions, are the €190 mils earning compound interest or none? Could the NTMA answer that question or could EirGrid?
 
Energy prices on the commodity markets are fairly low relative to the past 6-7 years. If credits are still being given now, they're a permanent fixture, with the only direction being upwards when wholesale market prices eventually rise.

The provision of credits in these conditions would effectively concede that something is fundamentally broken in how Ireland's energy generation and transmission infrastructure has been configured in recent decades, relative to other European countries with lower energy prices.

One small example - "network charges" have increased by €100 over the past year - before you even use a kilowatt, whether that originated from a fresh westward breeze or a ruthless eastern tyrant.
 
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I had an Electric Ireland salesman at my door last week and he stated that there would be no energy Credits in this budget, hence the reason why Electric Ireland had reduced their prices, a semi-state company couldn't be seen to be upping their energy prices especially if there was going to be no energy credit this year
 
ClubMan said:
They didn't.
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I think you will find they did, excerpt of email received yesterday. It may only be gas but it's still a decrease.

We are writing to inform you that, effective 01 November 2025, Electric Ireland will reduce residential gas unit rates and standing charges by 4%. This change will result in an average annual saving of €57.56 for our gas customers.

This is Electric Ireland’s fourth consecutive residential gas price reduction since November 2023, delivering a cumulative decrease of 23.6% and total savings of approximately €390 (excluding value added tax (VAT) and carbon tax) on the average gas bill.
In addition, residential electricity unit rates and standing charges will remain unchanged. Since November 2023, we have reduced electricity rates three times, resulting in cumulative savings of up to €376 (excluding VAT and Public Service Obligation levy) for our electricity customers.  

Electric Ireland remains committed to offering competitive tariffs, price stability, and ongoing value to our customers.  
 
Zenith63 said:
Personally I would prefer the money be used to upgrade the grid and speed up the deployment of offshore wind and grid-scale solar to reduce costs long-term.
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I’m yet to be convinced that such generation methods will ever be cost effective.
 
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