A significant wave of changes is sweeping through Ireland next month, featuring six notable adjustments that will impact thousands of people. While some of these shifts bring benefits, others come with a less favorable twist.
One of the most anticipated changes is the expected rise in pint prices in February, marking an end to Dry January. This hike will affect popular beverages like Guinness, Harp, Smithwicks, and Hophouse 13, increasing their cost by 6% excluding VAT in most Dublin pubs.
However, amidst the price increase, Budget 2025 has introduced two substantial electricity credit payments totaling €500 per household. These lump sums, of €250 each, are designed to help ease the financial strain on Irish energy bills. The first payment was made in December, with the second due before February ends.
PINT PRICE RISE
For beer enthusiasts, February signals a tougher time ahead. The price of a pint may surpass €7 in Dublin establishments, due to Diageo’s 6% price hike (excluding VAT). This raise will hit well-known brands such as Guinness, Harp, Smithwicks, and Hophouse 13, affecting late-night revelers and casual drinkers alike.
ELECTRICITY CREDIT
As part of the recent Budget 2025, Irish households are set to receive a much-needed financial support through electricity credits. These credits, offered as two lump sums of €250 each, will automatically reduce energy bills. The first payment has already been made in December 2024, with the second installment expected before the month of February concludes.
SOCIAL WELFARE PAYMENT DATES
Social Welfare recipients will notice a shift in their payment schedules due to the new February bank holiday. Although payments will not be made on February 3, they will be advanced to Friday, January 31. This ensures minimal disruption for those relying on these payments.
BANKING CHANGES
Several banking reforms are imminent, offering both adjustments and additional benefits. On January 23, AIB reduced interest rates on two fixed-term deposit accounts by 0.25 percentage points and lowered the minimum opening deposit from €15,000 to €5,000. Meanwhile, PTSB introduced a 2% cashback scheme on monthly mortgage repayments up to €30 per month for a repayment of €1,500. This offer is valid until 2030, providing a consistent return for customers.
REVOLUT CREDIT CARDS
Revolut has recently enhanced its credit card service with new repayment options. Starting in February, cardholders can choose repayment plans for eligible purchases over three, six, nine, or twelve months at a reduced rate compared to the standard annual percentage rate. These repayments can be set up via the Revolut app without incurring any extra charges.
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These changes reflect a diverse set of monetary and service adjustments impacting daily life in Ireland. While the rise in啤 prices may come as unwelcome news, the electricity credits and banking reforms provide a much-needed financial boost. Social welfare recipients will also benefit from an early payment period, ensuring continued support.
Stay informed about these upcoming changes as February approaches. Whether you’re a social welfare recipient, a beer lover, or a banking customer, these adjustments could significantly influence your financial situation.
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