An increase in carbon tax on home heating fuels comes into effect today which will see the majority of homes hit with a hike in costs.
This jump will mean the price of gas in every home will rise by €1.40 per month and home heating oil will increase by €1.50.
Finance Minister Paschal Donohoe explained that this move was vital to help the public with the rise in the cost of living here, “but also in particular, to offset the increase in carbon tax.”
However. applications remain open for the Fuel Allowance payment for 2022/2023, which will start up again in September.
There is some good news however, the cut on VAT for electricity and gas will come into effect next week as many Irish households will welcome savings of up to €120.
In line with measures to ease the rising cost of living in Ireland, VAT will be temporarily be cut from 13.5% to 9% from Monday, May 2, until October 31, 2022.
According to experts, these changes will save homeowners up to €50 on gas and €70 on electricity for the year.
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