Dublin: Subsidy money will be clawed back, resulting in higher wholesale prices of electricity. The Commission for the Regulation of Utilities (CRU) today officially announced that electricity consumers will receive a payment of €89.10 as they do not have to pay subsidies for renewables due to the high wholesale price of electricity.
Payment is made in monthly installments of €12.73 from March to September. Customers receive payment as a credit to their bills. Pre-paid customers will have their daily standing charge reduced.
The Public Service Obligation Levy (PSO) exists to facilitate investment in renewable electricity generation. But since renewable generators benefited from higher wholesale prices last year, this subsidy is no longer needed.
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