There are a lot of people in the country for whom the €50 will be an important single windfall boost to their household income. There's nothing stopping you from donating yours to a good cause.A €50 refund for 11 years of "overcharging", that's €4.54 a year or approximately €0.75 cent a bill
I know it's not the point, we shouldn't be overcharged, but why bother refunding us ??
I'd much rather see the money donated to the state to help sort out in some other area that could do with a bit of extra funding
It was taken from electricity payers by stealth, therefore it needs to be repaid to the people it was taken from. Aswell as that any other stealth charges and levies need also to be rooted out and exposed. There are enough charges and taxes there already without hidden ones aswellA €50 refund for 11 years of "overcharging", that's €4.54 a year or approximately €0.75 cent a bill
I know it's not the point, we shouldn't be overcharged, but why bother refunding us ??
I'd much rather see the money donated to the state to help sort out in some other area that could do with a bit of extra funding
But it belongs to those from whom the money was taken, not the governmentI'd much rather see the money donated to the state to help sort out in some other area that could do with a bit of extra funding
I'd much rather see the money donated to the state to help sort out in some other area that could do with a bit of extra funding
You'd probably need a doctorate in SF mathematics to understand the answer though...€600m overcharge over 12 years, €50 refund?
Would love to see the maths on that!
Senator (Lynn) Boylan repeated her calls that the total cost of the scheme be clarified, noting that figures including €600m have been mentioned.
There are a lot of people in the country for whom the €50 will be an important single windfall boost to their household income. There's nothing stopping you from donating yours to a good cause.
It was taken from electricity payers by stealth, therefore it needs to be repaid to the people it was taken from. Aswell as that any other stealth charges and levies need also to be rooted out and exposed. There are enough charges and taxes there already without hidden ones aswell
Whoops, forgive me for been so "altruistic" just thought it would be better going to some worthy causeAllowing the government pocket what State companies overcharge customers actually incentivises it to not only tolerate but facilitate overcharging.
And it's rolling in money - see the latest exchequer returns - and struggling to spend it.
I'm still struggling with Revenue/FF maths which state that IR£1,000,000.00 owed by CJH in taxes = zero. Riddle me that, pray tell.You'd probably need a doctorate in SF mathematics to understand the answer though...
I thought the same at first, but it didn't look right.True and my crude sums would indicate that €600M / 1.2M* = c. €50 per household plus the interest on the capital sum accrued over 11 years, compounded.
@Harvard, unless you had active ESB accounts in parallel over the years, the one crispy €50 is all you'll get, if the speculation is correct.
Mind you, the compound interest on €600M @ 1% over 11 years is close to €70M (69.7M). I'd have no objection to the interest being used for good elsewhere.
[EDIT] *The number of household accounts ESBsteals fromdeals with
The decision taken by Govt 12 years ago was to rebalance how ESB collect charges from customers. The rebalance favoured large energy users (LEUs) over domestic customers. It was meant to be a fixed amount of €50m a year, which times 12 is where the €600m came from. In terms of how it was implemented my understanding is that the €600m was not a mistake or overcharge - it was Govt policy. The issue was how the rebalance was done. It seems that instead of rebalancing by a fixed amount of €50m per year, ESB used a percentage. This led to domestic customers providing an even greater subsidy to LEUs than the €50m per annum. ESB have said they think that this extra bit on top equates to a c.€50 overpayment per domestic customer, hence the recharge.€600m overcharge over 12 years, €50 refund?
Would love to see the maths on that!
Feel free to be altruistic with your own money.Whoops, forgive me for been so "altruistic" just thought it would be better going to some worthy cause
I know €50 is €50 but is it really going to be missed or make a real difference to a persons life in the long term
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