According to a piece in the Irish Times this week, the cost of moving into personal insolvency has been greatly reduced. Ciarán Hancock writes that the overall cost has dropped to around €270, when compared to a figure of €1,400 last year.
Introduced at the end of 2014, the decrease comes as a result of the Insolvency Service of Ireland (ISI) waiving bankruptcy fees for the duration of 2015, the reduction of a contribution fee from €650 to €200, with an additional €70 required to pay for a notice in Iris Oifigiúil, the official Irish State gazette.
Meanwhile, the Commission for Energy Regulation has called on Irish energy companies to pass along price drops to their customers. Despite falling global oil and gas prices, electricity rates in Ireland have only dropped by 2%, courtesy of Pinergy and Electric Ireland. Speaking to RTÉ radio’s Morning Ireland programme, Aoife McEvilly, one of three commissioners at the organisation, said: “We are asking them to pass on the benefits to consumers.”