CABINET HAS SIGNED OFF on the plan for three €200 energy credits for householders over the next few months. 

As part of budget 2023, it was announced that three energy credits would be paid out in November, January and March to help householders with the rising cost of energy bills.

Minister for Energy Eamon Ryan received Government approval today for the text of the legislation (Electricity Costs Emergency Measures and Miscellaneous Provisions Bill) which will ensure that payments can commence next month. 

The overall cost of the electricity credits is €1.2bn.

The minister says he expects speedy passage of the legislation through the Oireachtas, with an early signature of the Bill by President Michael D Higgins in order to ensure payments can be made from November.  

Cabinet also agreed to work on an alternative mechanism to provide the same level of benefit to an estimated 1,000 traveller households in certain local authority accommodation that do not have their own meters.

The exact details of how this will happen will be agreed with the Minister for Housing Darragh O’Brien.

Fine Gael Louth TD Fergus O’Dowd raised concerns in the Dáil earlier today, telling the Taoiseach that there is a small group of people who live permanently in a mobile home park in his own constituency, many of whom are pensioners.

He said they are “not the normal type of ESB account holder but instead pay their energy bills directly to the mobile home park operators through private meter arrangements”.

‘There is no colder place than a mobile home in winter, we all know that. For a pensioner who has no alternative but to live there it is unacceptable. We have to find a way that they can benefit from the €600,” he asked. 

Micheál Martin outlined that the minister is looking at certain categories that fall outside the framework that can facilitate the easy mechanisms to disburse the money.  

In addition, Ryan also received government approval for the temporary reduction of the National Oil Reserves Agency (NORA) levy, at an estimated cost of €45 million.

While the NORA levy is a key funding source for the Climate Action Fund, there was agreement that it will be reimbursed from Exchequer funding. 

Due to the cost of living challenges, the Government decided to offset the carbon tax increase with a reduction to zero of the NORA levy.

“The NORA levy, which is collected at a rate of 2 cent per litre (VAT exclusive), will offset the carbon tax increase which means that the price at the pump will not go up as a result of taxes or levies,” Finance Minister Paschal Donohoe said in his budget day speech last week.