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March 2023 €200 Energy Credit To Proceed Despite Call By European Central Bank To Desist.

The current roll-out, by the Irish Government, of €200 energy credits for March is now expected to proceed, despite instructions from the European Central Bank (ECB), for Ireland to roll back cost-of-living supports.

An Tánaiste, Mr Micheál Martin has stated that the call by ECB boss, Ms Christine Lagarde, will not affect the March payment, same the third payment since October last, but said that the Government must look again to intervene next winter, should inflation rates require further intervention.

Mr Martin confirmed that the Finance Minister, Mr Michael McGrath, together with Public Expenditure Minister, Mr Paschal Donohoe are both working on recommendations to place before all three party leaders, to discuss and approve in the coming days, on the expiry dates at the end of February, for all cost-of-living measures put in place, just last year.

He further confirmed that there would not be a ‘cliff edge’ ending to the measures, but government would continue to examine all past cost-of-living evulations; to determine which ones if any should be continued, while keeping an eye on the full year, including the coming winter of 2023.

While calling on energy companies to pass on lower costs to consumers; the Finance Minister Mr McGrath pointed out that while he would consider calls by the ECB to roll back cost-of-living supports, any extension of future measures would remain a national decision.

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