Ireland’s Guide To Money And Living

Consumer watch

Consumer watch

Summer savings

Great news for Irish consumers this summer – residential customers of Electric Ireland will benefit from a rate reduction of 6% beginning June 1st 2016, representing an average yearly saving of around €57. “This is Electric Ireland’s third electricity price decrease in less than two years. We are committed to continually offering the best value products to our customers in a very competitive energy marketplace,” said Electric Ireland executive director Jim Dollard. “Today’s announcement is good news for Electric Ireland’s 1.2 million residential electricity customers – it means the average annual residential bill for our customers will have reduced by more than €100 over the last 19 months.”

Motor madness

In other news, The Irish Times‘ Mark Hilliard reports on the release of a Department of Transport memo, obtained under the Freedom of Information Act, which noted that Department officials are sceptical as to whether Ireland’s motor insurers are increasing premiums as a result of compensation awards or in order to ‘boost profits’. Whatever the reason, motorists are paying the price – many have experienced price increases to the tune of 40 per cent in two years, according to the AA’s Conor Faughnan.

Double check your labels

Finally if you’re watching your figure, or simply what goes on your plate, you may like to pay close attention to the figures on your food labels. This week the Irish Independent covers research from the Teagasc Food Research Centre which suggests that the labels on some bacon products contain inaccurate information regarding salt content – up to 50% greater than the recommended limit in some cases, they say.

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When not writing about all things personal finance, You & Your Money's editor Conor Forrest enjoys reading, football and getting lost in an ocean of Wikipedia articles.
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