Different ‘time rates’ to calculate energy bills

Electricity bills in future are likely to be calculated on different rates applying to three time periods each day following the introduction of smart meters.

The Commission for the Regulation of Utilities (CRU) has launched a consultation process over its proposals to introduce ‘time-of-use’ tariffs to coincide with the €1bn project to install a smart meter in every household and business premises here.

The CRU plans to provide 2.25 million smart meters to both residential and business customers of electricity suppliers over the coming years as part of its plans to reduce energy costs for consumers and help Ireland to meet its EU energy reduction targets.