Bad news for householders and business owners, as you could be facing an increase in your energy bills after the Commission for Energy Regulation proposed a huge price hike in the levy on bills.
The Irish Independent reports that the Commission has proposed that the public service levy (PSO), which is a levy on electricity bills and is used to cover the cost of schemes supporting renewable energy such as wind farms, to go up by 40%.
The proposal will see the levy go from €80 a year for domestic customers to €112, when valued added tax is included.
Business bills are expected to be subject to a rise of 12%.
A final decision will be made in July, with the new levy coming into effect from October.
Better start watching the pennies so...