Price increases for gas and electricity announced by Bord Gáis are difficult, but reflect the underlying volatility of wholesale prices in the market, according to the chairperson for the Commission for Regulation of Utilities (CRU). Aoife MacEvilly said: “Even with competitive pressures, the reality is we’ve got very high and volatile wholesale gas prices, which…
Tag Archives: consumer
Euro zone finance ministers have agreed to tighten fiscal policy a little next year after three years of pumping billions into the economy due to the coronavirus pandemic, but also to be ready with more cash should the war in Ukraine make it necessary. “The fundamentals of the euro area economy are strong,” the ministers…
The Central Bank’s Director of Consumer Protection has said he thinks banks here “are not yet where they need to be” in preparing for Ulster Bank and KBC’s exit from the Irish market. Colm Kincaid also said the Central Bank has an “appetite to intervene” where it considers necessary to do so if it is…
A once-off fuel allowance payment of €125 will be paid to recipients this week. The measure was announced last month as part of the Government package to tackle the rising cost of living. Fuel prices are one of the main drivers of rising inflation, while the war in Ukraine has also pushed costs higher. Last…
Fuels for Ireland, the industry body for fuel suppliers and retailers, has written to Taoiseach Mícheál Martin to express its members’ deep unhappiness at what it claims have been misleading statements about the sector. The organisation also said that comments made by Mr Martin suggesting the actions of the organisation’s members were morally reprehensible should…
The European Central Bank has scaled back its bond-buying stimulus plan in response to inflation being driven up by the war in Ukraine, while giving itself more flexibility on the timing of a potential interest rate rise this year. “The Russian invasion of Ukraine is a watershed for Europe,” the ECB said in a statement…
The price of petrol and diesel has been reduced since midnight. Late last night, the Dáil voted in favour of a cut in excise on petrol and diesel. The reduction is 20 cent per litre on petrol, 15 cent per litre on diesel and a cut of 2 cent per litre on green diesel. The…
Higher security standards for certain card payments have come into effect. The changes are part of the ongoing rollout of Strong Customer Authentication (SCA) and relate to recurring card payments such as subscriptions where the cardholder’s details are retained for future use. From today, service providers and online retailers must process these payments in line…
This week was a busy one in the Irish banking landscape as AIB, Bank of Ireland and Permanent TSB all reported annual results for 2021. There were many angles arising – from a return to profits, to the resumption of dividends, and progress on the purchase of new assets, to the reduction of the State’s…
The European Commissioner for Financial Services, Financial Stability and Capital Markets Union, has said nothing is off the table when it comes to potential further action by the European Union on sanctions against Russia. Mairead McGuinness said everything the EU does will be about attacking Russia’s war machine by “pulling away money” but while also…
