One in Four Gas, One in Seven Electricity Accounts in Arrears by March

At the end of March, one in four gas accounts and one in seven electricity accounts were in arrears, an increase of 11% and 5% respectively over the last twelve months. The amounts owed have also risen. This places increased pressure on the Government to provide household support amid rising interest rates and inflation.

The Government plans to address energy costs in the October budget but has not specified measures. An official task force is examining energy costs and market operations, with its final report pending. Key questions include funding energy infrastructure upgrades and the division of costs between energy bills and taxpayer funds.

Ireland's high energy prices stem from heavy reliance on gas for electricity, high infrastructure maintenance costs due to a small market and low housing density, and limited connections for cheaper electricity imports. A crucial link to France is delayed. The Economic and Social Research Institute advises that any government support should be targeted at less well-off households, who are disproportionately affected by rising bills.