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Half of Irish population don’t understand electricity bills

New research from Electric Ireland suggests lack of knowledge with cost of electricity

Half of Irish people are unsure of what their electricity bills include, according to new research from Electric Ireland.

Alongside a lack of knowledge on the main cost elements, one third of people also thought that oil is the main fuel used in electricity generation – in reality it accounts for less than 1%.

Electric Ireland have launched a newElectricity Pricing Guide to aid customers with their electricity bills. It will include a breakdown of raw fuel costs, the price of generation and delivery, government taxes and levies and supplier costs.

Getting to grips with electricity bills

The supplier found many misconceptions relating to electricity generation while 28% of the costs relate to the transporting of power across Ireland via 165,000km of overhead cables.

Electric Ireland’s research also revealed a lack of understanding of the government PSO levy, with 84% of people admitting they were confused by what it is used for.

The Commission for Energy Regulation apply the PSO Levy, which helps aid the development and generation of electricity from renewable energy sources.

‘Simple solutions’ to boost understanding

Paul Stapleton, General Manager of Electric Ireland, revealed that the firm is aiming to provide simple solutions that can make it easier for customers to understand their electricity bills.

He added that the new Pricing Guide should help in this regard as it highlights the many factors involved in bring electricity from its point of generation to the home.

Electric Ireland reduced its residential electricity prices by 2% on average in mid-November, meaning customers can save an average of €50 on their annual bill when coupled with a further reduction from one year ago.

Mr Stapleton suggested that further offers and innovative products are likely in the future as Electric Ireland wants to take its customers on an “exciting journey”.

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