Blow for homeowners as new electricity tariffs are confirmed

Homeowners across the country will face a hike in their electricity bill as the Commission for Regulation of Utilities (CRU) announce new tariff to fund improvements to electricity networks. 

The CRU confirmed in their announcement that the new tariff is not related to individual usage.

Residential customers across the country will see an average increase of €8.42 per month in their annual electricity bill or €101 approximately for 12 months from October 2024 - September 2025.

The increase comes after the 2023/24 tariff year in which domestic customers saw a reduction in their annual bills from the implementation of the LEU Rebalancing error correction.

The implementation of the new tariff for the year ahead will mean that this benefit no longer applies.

Other factors which may affect a customer’s annual bill include wholesale market costs, capacity market costs and other unspecified system costs.

Furthermore, the Distribution Use of System tariffs are to be charged to suppliers, who in turn may choose how, or whether, to pass these tariffs on to their respective customers.