Budget 2023 included an Electricity Cost Emergency Benefit Scheme through which €550.47 (exclusive of VAT) is being credited to each domestic electricity account in three payments of €183.49 (exclusive of VAT). The first two payments have already been made to accounts and suppliers began crediting the third payment to accounts on 1 March. The estimated cost of this scheme is €1.211 billion.The payments apply to domestic electricity accounts, including those with Pay As You Go meters, which are subject to distribution use of system charges at the rate for urban domestic customers (DG1) or the rate for rural domestic customers (DG2). The scheme uses the single identifier of the Meter Point Registration Number (MPRN) to ensure it can be administered automatically and without an application/approval process.
Suppliers are now crediting the third payment to electricity accounts. I understand that in Electric Ireland's case bills issued from the 3 March will identify the payment. For bills issued before this date the third payment will appear on the next bill. The legislation underpinning the Scheme requires that the third payment is credited by suppliers to accounts between 1 March and 30 April.
