Tomorrow will see thousands of people get a free €150 to help with energy bills. This will be the first of three instalments with the second instalment to be paid in January 2024 and the third set to be made in March 2024. A total of €450 is expected to be paid towards electricity bills over the coming months.
How will the credit be applied to my account?
If you get electricity bills, the credit will be applied automatically and you do not need to apply for it.
You should see a ‘credit line’ on your bill to the amount of €137.61 (this is €150 excluding VAT at 9%). The total payments will be €412.84 excluding VAT across the three instalments.
READ MORE: Social welfare Ireland: Full list of people who will qualify for €200 lump sum paid from today
Will I still get the electricity credit if I have a PrePay meter?
Yes, your provider will send you a top up code for the amount of the credit .
If they have your number, it will be sent via SMS from the 1st of December but you may receive your code via email or a letter in the post also
But what does this mean for people who are renting or have recently switched supplies or those on prepay meters, Eoin Clarke, commercial director at Switcher.ie , shares his advice,
“With temperatures plummeting and the cost of living still soaring, the first electricity credit will be a relief for many families in the lead up to Christmas. From tomorrow, customers will see a credit of €150 on their electricity account.
You might not see the credit until later in December or January, depending on when you are due your bill.
With 1 in 8 in energy arrears, the support will help thousands of households keep on top of sky-high costs. But with the typical household still paying €1,917 per year for electricity, all three government credits may only cover a fraction of their annual bill.
This makes it more important than ever that you're not paying more for electricity than you need to. With even bigger discounts on the table, you could save around €323 when you switch suppliers to the cheapest possible deal.
You don’t need to worry about missing out on the credit if you switch plans, as your previous supplier will apply the credit to your closing bill.
For those on prepay meters, your supplier should give you instructions on how to redeem the credit. If you’re renting and your landlord is the account holder, they are responsible for passing you on the credit. If they don’t, you can raise it with the Residential Tenancies Board.”
PrepayPower customers will be paid their credit instalments within the following dates:
First instalment: Between December 1st and 6th, 2023.
Second instalment: Between January 1st and 6th, 2024.
Third instalment: Between March 1st and 6th, 2024.
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