The Commission for the Regulation of Utilities has set the Public Services Obligation (PSO) levy at €1.94 monthly, effective from October, which is half the current levy. However, this reduction is offset by an increase in household electricity bills by at least €83 annually due to substantial upgrades needed for the country’s power system. The overall average household electricity bill is projected to rise from €254 to €337. The CRU emphasizes that these costs will help fund investments into renewable energy projects, which households will bear.
The reduction in the PSO levy is a positive development, but it comes alongside a significant increase in household electricity bills to fund major upgrades.
The decision to set the PSO levy at €1.94 monthly highlights the ongoing investment needed in renewable energy projects, which households will ultimately fund.
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