€16 electricity price hike fear for EVERY Irish household as data centre costs cut amid €250 budget energy credit calls
The Commission for Regulation of Utilities is preparing to increase the network cost on bills to pay for future capital investment.
2
Sinn Fein's energy spokesman, Meath TD Darren O'Rourke
2
Finance Minister Paschal Donohoe said they are not prepared to come up with a package of energy credits to help families in this years budget
Credit: Getty Images - Getty
Yet at the same time the price of power for the big data centres around the country, which use up a large percentage of the Irish supply, are to be reduced.
Sinn Fein slammed the proposed price increase for consumers and price cut for the data centres and said the timing is all wrong - especially with over 300,000 householders in arrears.
It wants the Government to come up with a package of energy credits to help families in the forthcoming 2026 October Budget.
The party's energy spokesman, Meath TD Darren O'Rourke, fumed: 'The CRU is preparing to hike the network costs that you have to pay but to cut them for data centres.
'The same data centres are hoarding more and more of the energy we produce, stalling the delivery of badly needed homes and putting our grid under real pressure.
'Big energy companies are intent on continuing to jack up their energy prices, all while raking in eye-watering profits.
'The Government pretends these issues are outside of their control but they are not. They are political decisions.
'They need to scrap the cut to costs for data centres and crucially use this Budget to bring forward badly needed support to help families and small businesses who are struggling with sky high energy costs.
'The Budget must include energy credits and extend the reduced VAT on electricity and gas bills until the end of the year.'
Energy Minister Darragh O'Brien has already firmly ruled out energy credits to help with electricity and heating bills in October's budget.
He said the €250 credits handed out to every Irish household as part of Budget 2025 cost the State €3.5billion.
But the Fianna Fail man said the lower nine per cent VAT rate on gas and electric should be retained to avoid hiking energy prices further.
Speaking to the Independent, he said: "I will be bringing an interim report to Government in advance of the Budget and we will assess that as to what measures can be taken.
IRISH CUSTOMERS PAYING MORE
"I think the vat reduction from 13.5 per cent to nine per cent is a very important one, one that I would like to see extended into next year. That decision will be taken at Budget time."
Recent figures from Eurostat showed that Irish consumers are paying on average €350 a year more for their electricity than most European countries.
Irish people pay on average €1,800 a year for their electricity - 30 per cent more than the rest of the EU.
The proposed increase at the moment from the Commission for Regulation of Utilities will add at least €6 a year on household customer bills.
The money will be used to pay for ESB Networks and Eirgrid's proposed €14billion investment over the next five years to upgrade their networks in Ireland to meet current and future demand.
Both ESB and Eirgrid are seeking €16 a year on bills. The final decision will be made later in the year.
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SINN Fein is demanding the Government intervene and stop another price increase on electricity bills. The Commission for Regulation of Utilities is preparing to increase the network cost on bills to pay for future capital investment. 2 Sinn Fein's energy spokesman, Meath TD Darren O'Rourke 2 Finance Minister Paschal Donohoe said they are not prepared to come up with a package of energy credits to help families in this years budget Credit: Getty Images - Getty Yet at the same time the price of power for the big data centres around the country, which use up a large percentage of the Irish supply, are to be reduced. Sinn Fein slammed the proposed price increase for consumers and price cut for the data centres and said the timing is all wrong - especially with over 300,000 householders in arrears. It wants the Government to come up with a package of energy credits to help families in the forthcoming 2026 October Budget. The party's energy spokesman, Meath TD Darren O'Rourke, fumed: 'The CRU is preparing to hike the network costs that you have to pay but to cut them for data centres. 'The same data centres are hoarding more and more of the energy we produce, stalling the delivery of badly needed homes and putting our grid under real pressure. 'Big energy companies are intent on continuing to jack up their energy prices, all while raking in eye-watering profits. 'The Government pretends these issues are outside of their control but they are not. They are political decisions. 'They need to scrap the cut to costs for data centres and crucially use this Budget to bring forward badly needed support to help families and small businesses who are struggling with sky high energy costs. 'The Budget must include energy credits and extend the reduced VAT on electricity and gas bills until the end of the year.' Energy Minister Darragh O'Brien has already firmly ruled out energy credits to help with electricity and heating bills in October's budget. He said the €250 credits handed out to every Irish household as part of Budget 2025 cost the State €3.5billion. But the Fianna Fail man said the lower nine per cent VAT rate on gas and electric should be retained to avoid hiking energy prices further. Speaking to the Independent, he said: "I will be bringing an interim report to Government in advance of the Budget and we will assess that as to what measures can be taken. IRISH CUSTOMERS PAYING MORE "I think the vat reduction from 13.5 per cent to nine per cent is a very important one, one that I would like to see extended into next year. That decision will be taken at Budget time." Recent figures from Eurostat showed that Irish consumers are paying on average €350 a year more for their electricity than most European countries. Irish people pay on average €1,800 a year for their electricity - 30 per cent more than the rest of the EU. The proposed increase at the moment from the Commission for Regulation of Utilities will add at least €6 a year on household customer bills. The money will be used to pay for ESB Networks and Eirgrid's proposed €14billion investment over the next five years to upgrade their networks in Ireland to meet current and future demand. Both ESB and Eirgrid are seeking €16 a year on bills. The final decision will be made later in the year.
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