Oireachtas Joint and Select Committees

Wednesday, 25 May 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Withdrawal from Irish Banking Market (Resumed): Engagement with Financial Services Union and Electric Ireland

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

That is very problematic. The process is in phases and customers are getting letters. There have been 120,000 issued so far. They will need to have their accounts closed by the autumn or winter. At that point, if they have not closed and transferred their accounts, they will be frozen out of their electricity accounts because the direct debits will fail. Unfortunately, the reality is that certain people will be in that cohort. What is Electric Ireland going to do when direct debits fail because people did not get around to switching their accounts? People might be in hospital or have other reasons for not doing it. What approach is taken to that debt?

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