Secret Government Memo Warns Household Bills Could Soar To €6,000

Saturday, 10 September 2022 08:32

It includes dire projections on the impact of the rising cost of wholesale gas.

A secret government memo published in several weekend newspapers warns household bills could soar to €6,000 next year.

It includes dire projections on the impact of the rising cost of wholesale gas, due to the war in Ukraine.

This internal government memo shows energy companies are privately warning the costs they're facing could cause the entire energy market to malfunction.

The Irish Times reports senior government sources saying the projections are 'off the richter scale' - with energy bills resembling mortgage repayments.

The Irish Independent says the cabinet is concerned the cost of living crisis could potentially plunge more than half the country into 'energy poverty'.

The dire warnings come as Tanaiste Leo Varadkar points to a double boost for households - with the likelihood of two more energy payments on the way - one before Christmas and another in the New Year.

The Dáil and the Seanad are due to sit again on Wednesday for the first time after the summer recess, to refocus attention on the Budget and the government's attempts to ease the growing financial burdens on the public.