News
€100 electricity payment approved by Cabinet

Every home in the country will receive €100 off their electricity bill in early 2022, a measure which was approved by Cabinet today (Tuesday).
The payment is one of a suite of measures to mitigate the effects of the unprecedented rise in electricity prices.
A €210m scheme was approved with approximately 2.1 million domestic electricity account holders set to benefit in the one-off, exceptional payment to their electricity accounts.
However, primary and secondary legislation will be required to underpin the scheme.
The new scheme to be known as the Electricity Costs Emergency Benefit Scheme following the passage of primary legislation through the Oireachtas in the New Year.
The scheme will be operated by ESB Networks who will make payments to the individual energy suppliers and the Commission for the Regulation of Utilities (CRU) will be charged with oversight of the scheme.
All domestic accounts, including Pay as You Go customers, will receive the credit. How the payment will be applied is currently being finalised and will be announced in the New Year. However, it will be automatic and will apply to all customers and people will not need to apply for it.
“The Government is very conscious that international energy prices are having a significant effect on utility bills," Minister for the Environment, Climate and Communications, Eamon Ryan TD, said.
"While we took measures in the Budget to support vulnerable groups, this credit is designed to provide all householders with a contribution to their electricity bills in the spring of 2022. In the long term, the way to reduce our dependence on internationally traded fossil fuels is to expand our own indigenous supply of renewable power. We are working towards having up to 80% of our electricity from renewables by 2030.”
The most immediate factor affecting electricity prices in Ireland is the upward trend in international gas prices. In Europe, wholesale natural gas prices have been on an upward curve since the second half of 2020. This feeds directly through to retail electricity prices, as the wholesale price of electricity correlates strongly with the price of gas.
News
Charity Fly Fishing event launched
It’s that time of the year again when anglers take to the waters of Lough Lein, Killarney, to raise funds for local charities. The Lough Lein Anglers’ Association are hosting […]

It’s that time of the year again when anglers take to the waters of Lough Lein, Killarney, to raise funds for local charities.
The Lough Lein Anglers’ Association are hosting ‘The Charity’ Fly Fishing competition for the 35th time on Sunday, April 23.
The main sponsor of the event is Lee Strand Co-op, Tralee and the outing is part of a great local angling tradition run by one of the
longest established fishing clubs in Ireland.
To date, it has generated a massive €275,000 for local charities and two more charities are set to benefit this year.
The Kerry Branch of The Irish Kidney Association and The Kerry Branch of Down Syndrome Ireland will both receive welcome donations from the event.
News
Benefit-In-Kind tax rules overturned for company cars
By John Healy of Healy Insurances Minister for Finance Michael McGrath has announced a temporary change for company-owned vehicles following a backlash from drivers whose Benefit-In-Kind (BIK) taxes increased substantially […]

By John Healy of Healy Insurances
Minister for Finance Michael McGrath has announced a temporary change for company-owned vehicles following a backlash from drivers whose Benefit-In-Kind (BIK) taxes increased substantially in January.
While the move to a CO2 based Benefit-In-Kind system, which incentivises the use of Electric Vehicles and lower emission cars, a significant number of employees with vehicles in the typical emissions range experienced large increases in their income tax liabilities since the start of 2023.
To address the issue, the Finance Minister has introduced a relief of €10,000 to be applied to the Original Market Value (OMV) of cars in Category A-D in order to reduce the amount of Benefit-In-Kind payable (this is not applicable to cars in Category E).
In effect, this means that, for the purposes of calculating BIK liability, employers may reduce the OMV by €10,000. This treatment will also apply to all vans and electric vehicles. For electric vehicles, the OMV deduction of €10,000 will be in addition to the existing relief of €35,000 that is currently available for EVs, meaning that the total relief for 2023 will be €45,000.
The upper limit in the highest mileage band is amended by way of a 4,000km reduction, so that the highest mileage band is now entered into at 48,001km.
These temporary measures will be retrospectively applied from 1 January 2023 and will remain in place until 31 December 2023. It is proposed to introduce the measures at Committee Stage of the Finance Bill 2023.
From an insurance perspective, if a vehicle is owned by a company then the motor policy in place must be in the company name and have full business use cover known as Class 2 cover. It is customary that the policy is on an open driving basis, usually aged 25 to 70. The cost for a company owned car policy can be higher than privately owned vehicles.