Yikes – Your Electricity Bill Could Soon Be Costing You Even More Money

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...