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The number of households in the Republic of Ireland dealing with energy poverty has skyrocketed.
Energy poverty is defined as spending more than a tenth of household net income on energy.
The Economic and Social Research Institute suggests energy poverty is affecting nearly 29% of households, compared to the previously recorded high of 23% in 1994.
It found that between January 2021 and April 2022 the cost of household energy consumption increased by €21.27 (£18.2) per week, on average.
This rises to €38.63 (£33) per week when transport fuels are included.
The authors stressed that soaring energy prices impact disproportionately those on low incomes.
Barra Roantree, one of the authors of the report, said: “Our findings have important implications for policy. If the objective is to protect those most affected by rising energy prices, cutting indirect taxes is a poorly targeted response.
“This is as most of the revenue is spent compensating higher-income households who have been less affected. Furthermore, trying to address the impact of rising energy prices by cutting indirect taxes on fuel can have other undesirable effects, such as blunting the incentive to invest in energy-saving technology.”