Every household in Ireland will see a €100 deduction from their electricity bill at the beginning of 2022.
The plan is set to be approved by Cabinet on today.
It is a one-off scheme by the Government as they try to ease the financial burden of rising energy prices.
In the last 12 months, the cost of electricity has risen by 21%, according to a recent CSO report.
Green Party Minister Eamon Ryan will bring the memo to Cabinet on Tuesday for approval.
The total cost is estimated at €170 million.
However, it’ll require legislation and probably won’t kick in immediately in 2022.
Reports have said the credit will cover the first two months of next year and will be deducted from household bills in February or March.
A Government source said the €100 will automatically be deducted from the bill - every household in the country is set to benefit.
And the scheme will not be means tested.
A source said the “exact mechanisms for doing so are being ironed out but the key thing is that everyone will get it, no matter how they pay.”
It’s understood that those who avail of pay as you go will get the benefit just like direct debit.
The Commission for Regulation of Utilities and electricity suppliers will be consulted ahead of the intervention.
The €100 credit is an addition to the specific targeted measures for low-income households announced recently in Budget 2022.
To get the latest breaking news straight to your inbox, sign up for our free newsletter
