I propose to take Questions Nos. 180, 184, 185, 194 and 195 together.
The Government agreed on 14 December to provide a once off payment of €100 to every domestic electricity account holder through their electricity supplier in 2022 as part of a range of measures to help mitigate the impact of rising electricity costs.
The scheme will become operational in quarter 1 2022 following the passage of the requisite legislation through the Oireachtas. Around 2.1 million homes will benefit from the scheme for a one-off, exceptional credit payment to their electricity accounts. The payment will be automatic and will applied directly to the bills of each domestic electricity account holder by their electricity supplier. People will not need to apply for the payment.
The Commission for the Regulation of Utilities (CRU) will be charged with oversight of the scheme. The scheme will be operated by the Distribution System Operator (ESB Networks) by virtue of its existing interface with all electricity suppliers. ESB Networks will make payments to energy suppliers who in turn will credit all their domestic electricity account holders in the amount of €100. The scheme will apply to all domestic accounts, including prepay meters. Further details of the Scheme including FAQ’s will be available on my Department’s website shortly.
The position of successive Governments has been that competitive energy markets result in greater choice for consumers, in terms of suppliers, products and prices. Data from approved price comparison sites shows that consumers can make significant savings by switching or engaging with energy suppliers. Many households could save on their bills if they did so. As recently as the 9th December, switching supplier could save a customer, consuming the average amount of electricity, up to €313.