Compare Ireland’s gas & electricity prices

22 March 2023: The government has approved a new windfall tax on energy companies, which could make earnings of up to €600m.

The bill will be enacted before the summer recess, with the first funds collected by this September. The tax is split into two parts: a cap on market revenue, and a temporary contribution, based on profits in the fossil fuel sector.

Minister for the environment, Eamon Ryan, said proceeds from the cap on revenue will be used to lower electricity prices for customers, while money from the temporary contribution will be used in variety of others ways; to be decided during this year’s budget.

21 February 2023: Customers will keep paying less VAT on their gas and electricity. The current rate of 9% was due to increase at the end of February, but has been extended as part of the government’s new Cost of Living Package. An additional credit of €200 toward energy bills won’t be provided as part of this package, but will be considered for the next budget.

February 2023: Pinergy are the first provider to reduce their energy tariffs in response to the fall in wholesale prices. An average household will enjoy a 7.1% decrease in energy costs which is equivalent to €183 annually (including VAT).

The new standard rates and standing charges will be effective from 31 March 2023.

09 February 2023: Irish households will enjoy a rare credit of €12.74 per month, due to a negative PSO Levy. The refund will be paid from March, and credited to customer’s bills by suppliers.

High gas prices means more revenue for renewable energy. The PSO levy, which is charged to customers to offset the cost of generating renewable energy, is now negative due to the high price wholesale energy.

Prepayment customers will receive the payment by a reduction in their daily standing charge.

31 January 2023: All households could be set to receive €50 credit on their ESB bill, after being overcharged for twelve years.

Customers unknowingly paid higher bills in a scheme designed to help big businesses pay off €50 million in network tariffs, after the last financial crash.

Residential payers were overcharged for the ‘Large Energy User’ rebalancing scheme since 2009, but the Commission for Regulation of Utilities (CRU) said they still need to confirm the exact amount.

17 January 2022: Billing issues and slow customer services topped the list of customer complaints to the energy regulator, Commission for Regulation of Utilities (CRU) in the third quarter of 2022.

With complaints up by 133%, the surge in unhappy customers has been triggered by unprecedented price rises, as suppliers struggle with high call volumes and account issues caused by customers querying ‘catch-up bills’ and contract terms.

10 January 2023: Flogas has launched the first fixed-price energy deal for three years as wholesale gas prices drop and hope returns to the energy market. Customers have been hit by massive hikes in gas and electricity bills over the last 2 years amid volatility in global markets.

This move by Flogas signals optimism that prices could slide further and other suppliers may offer similar fixed-rate deals in the coming weeks. Flogas is also offering €300 welcome credit for new dual-fuel plan customers and €150 welcome credit for new single fuel customers.