Speaking on RTÉ radio’s Morning Ireland, Mr. Gannon explained that the increase in standing charges, which will add an average of €100 to domestic bills, is necessary to cover the costs of maintaining the electricity network.

“We estimate that the average consumer will see a bill increase of between six to eight percent, or around €102. However, despite this increase, there is still substantial value available in the market.

Currently, the average standard plan for a typical household costs approximately €1,580, but by switching to smart tariffs, that could be reduced to around €1,150. We strongly encourage people to use accredited price comparison websites to find these savings.”

Mr. Gannon also noted that the CRU annually reviews the performance of energy providers and assesses their upcoming investment requirements for the government.

“We ensure that their performance and investment levels meet the necessary standards before approving charges for the upcoming year,” he said, adding that operational and transmission requirements vary between providers.

Acknowledging the challenges faced by consumers in recent years, Mr. Gannon said the CRU is “acutely aware” of their difficulties. He also mentioned that the CRU will soon publish updated protection measures for the coming winter, including details on disconnection moratoriums, debt repayment options for pay-as-you-go meters, discounted tariffs for those in hardship, and timelines for debt repayment.

He emphasized that for consumers actively engaging with their suppliers, there is a commitment not to disconnect them. “Again, the key point is that there are significant savings available in the market, and we encourage consumers to use accredited price comparison websites to take advantage of these opportunities,” he concluded.