Effective from 1 July the tax rate of €0.01838/kWh which has been in force since 1 January 2014 will fall to a value of €0.00996/kWh, a reduction of this tax of 45.8%.
The move is part of a series of revisions that should see domestic combined energy costs fall by around 1.7% while also promoting high efficiency cogeneration in the country. It was prompted by concerns that domestic consumers had previously been overcharged on their regulated energy prices applied by providers of last resort.
The revised taxation rate applies for the period to 31 December 2014.
By applying a number of provisions although grid tariffs have been increased by 1.89%, households will see an overall reduction in electricity prices of 0.9%.