Electric Ireland to forgo profit, giving new credit to residential customers

Electric Ireland will forgo profits from its residential electricity business, instead offering a €50 credit to residential electricity customers.

The credit will apply to both Pay As You Go (PAYG) and credit meter customers with Electric Ireland on December 20.

The credit will be applied to PAYG accounts before December 24, while credit meter customers will have it applied to their next bill after January 3rd, 2023.

The company also confirmed it will increase its hardship fund by €2 million, bringing its total to €5 million.

Electric Ireland's executive director Pat Fenlon said the company is "acutely aware of the pressures that customers face this winter", adding the hardship fund "will help ensure the fund is accessible to those most in need of support during the winter months".

“We are committed to helping any of our customers who experience financial difficulty," he said. "As always, we encourage any Electric Ireland customer who has difficulty in paying their energy bill to engage with us and we will work with them to put a manageable payment plan in place.”