One of the country's biggest energy providers is foregoing it's profits and putting the money into helping struggling customers.
SSE Airtricity, which supplies more than 700,000 homes and businesses across the island of Ireland, made a profit of €17 million according to its half-year results.
But it says it's going to prioritise the most financially vulnerable and expects not to make a profit for the 12 months to the end of March 2023.
It will be putting all of its profits this financial year into helping families struggling with the cost of energy.
It comes just over a month after the company raised its prices for electricity customers by 36% and gas bills by 39%
Today, it announced millions of euro will go to St Vincent de Paul and the company's own hardship fund.
Business Editor Joe Lynam says the announcement follows recent hikes in gas and electricity prices.
"They had raised gas pricing by 32% earlier this year and electricity prices by 24%
"They said they couldn't rule out further prices rises at some stage in the coming months.
"But yes, that is quite a nice gesture I think from the company."
Today it was announced that Electric Ireland, Bord Gais Energy and SSE Airtricity have each donated one million euro each to St Vincent de Paul.
The charity says energy vouchers are available to people in need, while SVP volunteers can engage with certain companies on behalf of struggling customers.
Head of Communication at Bonkers.ie, Darragh Cassidy, says while its a positive move that SSE Airtricity are foregoing it's profits and putting the money into helping struggling customers, it won’t have a major impact on its customers bills.
"The devil is in the detail.
"Whilst on paper it sounds like really good news, it may or may not actually make a difference to peoples pockets.
"Gas and electricity prices are at record highs and people are really going to feel it over the next few weeks when they get their first winter bills and the announcement from SSE Airtricity doesn't really change that."
He continued to say that the company will still make profits from selling energy to the grid.
"The company is still going to make profits but maybe just on a different side of the business.
"I don't want to be too negative and it is somewhat to be commended that SSE Airtricity has come out with this announcement, the devil is always in the detail."
