Money Week - Bonkers.ie expects 50% increase in levy

The public service obligation levy that every Irish household pays on its electricity bills is expected to rise by 50 per cent, according to Irish website Bonkers.ie.

The Commission for Energy Regulation (CER) reported last week that the current annual level of €42.87 per customer will increase to €64.37 per customer on October 1st 2014.

The website calculates that as an increase of €21.50 per customer, or 50 per cent.

The PSO generated more than €210 million in 2014, which is expected to rise to €335 million in 2015.


ESRI: income inequality reduced by recession

In a twist on the well-known old saying, the rich got poorer during the recession while the poor remained as poor as ever.

A report this week from the Economic and Social Research Institute suggests that the inequality in income distribution in Ireland has reduced. The report attributes the squeezing to the collapse in the property market. "The bursting of the property market bubble affected those at the top of the income distribution, especially those who earned most of their income from property related activities, resulting in a big fall in numbers of high earners, reducing income inequality," it said. Meanwhile, the report stated, the poor remained as poor as ever "The maintenance of the welfare floor relatively unchanged, in spite of the crisis, provided significant support for this group of people," it said. According to the report, the average personal disposable income per head is estimated to have fallen from around €22,800 in2008 to €20,900 in 2014, a decline of 8 per cent.


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