Energy bills could drop as Cabinet signs off on new powers for regulator

The Commission for the Regulation of Utilities sets the levy every year and requires suppliers to collect it from customers through energy bills.

Energy bills could be cut by up to €127 a year from 2023, with the utility regulator gaining new powers at Tuesday's Cabinet meeting. 

Under a package of measures brought to Cabinet by the Minister for Transport, Energy, Climate and Communications Eamon Ryan on Tuesday, the Commission for the Regulation of Utilities (CRU) will be permitted to set the PSO (Public Service Obligation) levy to negative amounts.