Whats the catch? Why are Electric Ireland just giving people €50?

40 comments
  1. They are paying it as a credit now rather than paying a windfall tax on their profit. Presumably it has the same net impact from a financial perspective, but this way they get the goodwill and publicity

  2. They are loaded with cash, profits are through the roof because of the price increases, so they can afford it.

  3. So let’s get this straight:

    Energy providers make too much money – OUTRAGE

    Govt give 600 euro to everyone for electricity – OUTRAGE for some reason

    Energy provider gives everyone a 50 euro credit – you got it, still OUTRAGE

  4. Energy companies are showing record profits.
    A giveaway like this takes a little wind out of the sale of price caps.
    It’s not out of the goodness of their hearts, don’t fool yourself into thinking otherwise.

  5. Electric Ireland – We’ve made so much money we literally don’t know what to do with it so we’ll give it back to you, but don’t worry we’ll take it off ya in January with our next price increase

  6. It cost them nothing to give because it’s just credit and they reap rewards from people talking about it and retaining their custom so it’s a win win for them.

  7. Forward thinking, the energy sector is going to post record profits this year all on the back of public misery. There will be calls for a windfall tax from Sinn Fein and people before profit. I guess they are trying to sway public perception of their company and lower their profits/prospective tax burden

  8. A lot of the energy companies are choosing to be charitable with their profits from 2022 rather than face some sort of increased tax burden from the state.

    €50 is not going to cover the increase in energy prices. But as the fella says; “Better than a slap with a wet fish.”

  9. Bord Gais isn’t doing it. Do I care? No because I have a better contract with them. Electric Ireland was very expensive this year.

  10. As surprising as it sounds the semi-state ESB group is not necessarily totally focused on profit. It is a semi-state body and a lot of government institutions are more trying to provide for benefit of citizens over endless profit. For example, why would the state give subsidies for energy efficiency and why would energy companies want you to be efficient if they are looking for profit? Because in general it is better for society. It’s the same across many of the former state owned operators in the EU.

  11. Because it will be enough to get a lot of people to stop saying ” they have made record profits this year, and have sharply increased the price. This needs to change.”

  12. It’s justifying the 150 euro additional that it’s going to cost us. This way we’ll feel better about getting the credit.

  13. Good for reputation, thus becomes advertising, will eat into profits as other companies might be forced to give someone as customers get angry

    Really big one, probably a tax write-off of some sort. Not doing it out of the goodness of their hearts anyways

  14. Energy prices are sky high so people are continually switching suppliers. This is one way to foster a reputation as ‘the good guy’ as a record number of people go to the bother of switching.

  15. Who’s currently cheapest for day/night electricity only?
    Electric Ireland is day 40 cent/kWh and night 20 cent/kWh.

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