As we approach February 2025, several financial changes are set to take effect, impacting households across Ireland. From electricity credits and mortgage cashback to price hikes on Guinness and bin charges, here’s a detailed breakdown of what’s coming.
Table of Contents
Electricity Account Credit: €125 Bonus for Every Household
To help households cope with energy costs, the government announced a €250 electricity credit in Budget 2025. This credit is being distributed in two instalments:
- First Instalment: Paid between 1 November and 31 December 2024
- Second Instalment: Will be applied between 1 January and 28 February 2025
All domestic electricity customers will automatically receive this credit, reducing their energy bills.
12 Social Welfare Changes in Ireland for 2025 You Need to Know
Ireland Introduces New Pay-Related Jobseeker’s Benefit 2025: What You Need to Know
Ireland Bank Holidays 2025: Full Schedule and Your Entitlements Explained
Claim Up to €84,000: Major Home Refurbishment Grant Explained!
Major Social Welfare and Tax Changes in 2025: Cash Boost for Thousands of Households
PTSB Mortgage Rate Reductions & Cashback Offers
Mortgage Rate Cuts
PTSB has introduced new mortgage rates, effective from 17 January 2025. This marks the fourth reduction in fixed-rate mortgages since December 2023:
- 2-year fixed rates: Reduced by up to 0.55%
- 3-year fixed rates: Reduced by up to 0.30%
- 4-year fixed rates: Reduced by up to 0.65%
- 5-year fixed rates: Reduced by up to 0.95%
- 7-year fixed rates: Reduced by up to 0.95%
2% Cashback on Mortgage Repayments
From 21 January 2025, PTSB introduced a 2% cashback offer on monthly mortgage repayments for existing customers.
- Cashback varies based on the monthly repayment amount.
- A customer repaying €1,500 per month could receive €30 cashback.
- To qualify, mortgage payments must be made via direct debit from a PTSB Explore Current Account.
- This offer is available until at least the end of 2030.
Revolut: New Flexible Payment Plans
Revolut has launched a new feature allowing credit card customers to pay off balances in instalments.
- Options available for 3, 6, 9, and 12 months.
- The instalment plans offer lower interest rates than Revolut’s standard APR.
- Customers can consolidate multiple purchases into one manageable instalment plan through the Revolut app.
Guinness Price Hike: Expect to Pay More for Your Pint
Diageo has announced an increase in the price of popular drinks, including:
- Guinness
- Harp
- Smithwick’s
- Hop House 13
From 3 February 2025, the cost per pint will increase by 6% before VAT. This means:
- The average price of a pint across Ireland will exceed €6.
- In Dublin, prices may surpass €7 per pint.
Bin Charges Are Rising: Here’s What You Need to Know
Panda Recycling has announced price increases for waste collection services, affecting customers in Dublin, Cork, Galway, Meath, Wicklow, Wexford, and other areas:
- Half-yearly service charge: Increasing from €67.50 to €70 (+3.7%)
- General waste per-lift charge: Rising from €11.75 to €13.50 (+14.89%)
- Recycling per-lift charge: Going up from €1 to €1.25 (+25%)
These changes will take effect from 1 February 2025.
Final Thoughts
February 2025 brings both financial relief and added expenses. While the electricity credit and mortgage rate cuts provide some relief, rising bin charges and the increased price of Guinness may strain household budgets. Keeping track of these changes can help you plan your finances wisely.
Leave a Reply