Dáil Éireann Debate, Wednesday - 5 October 2022
71. Deputy Ged Nash asked the Minister for the Environment, Climate and Communications the average household energy bill expected in 2022; the estimated energy bill for a household in 2023; the analysis that his Department has carried out to determine this; if he will publish that analysis; if he will confirm the rationale that informed the decision to set the credit at €600; and if he will make a statement on the matter. [49032/22]
Amharc ar fhreagraThe most immediate factor affecting electricity prices in Ireland is sustained high international gas prices with the unprecedented increase and volatility continuing as a result of the Russian invasion of Ukraine. This in turn has led to increases in energy bills given the link between the wholesale price of gas and electricity prices.In September 2022 the Estimated Annual Bill for a domestic electricity consumer was €2,100 and for domestic gas €1,819. These are 84% higher than estimated annual bills for this time last year, and since then there have been further price increase announcements. Due to the extreme volatility seen this year in wholesale gas markets and the related uncertainty over future wholesale prices, predicting future energy bills in the current environment is extremely challenging. Nevertheless, given current gas futures further increases in household electricity and gas bills must be expected over the coming months and throughout next year.In light of this continued rise in energy costs Government decided to introduce a new Electricity Cost Emergency Benefit Scheme through which €550.47 (exclusive of VAT) would be credited to each domestic electricity account in three payments of €183.49. This level of payment was identified as appropriate to manage the impact of the increase in estimated annual bills.
