10 money changes coming in November - social welfare bonus to energy credit and bills going down

There are plenty of key dates and financial changes that could affect your wallet in November. Households are continually being hit with price increases, but this month could see some relief.

Several social welfare groups are in line for a big boost as a number of bonus lump sum payments announced in Budget 2025 will be issued this month.

Meanwhile every household in Ireland can look forward to a chunk of money off their energy bills, as the first of two €125 payments is due to come in. However, certain property owners are in for a hike as a new tax rise takes effect this month.

Here are 10 cost of living benefits and bill hikes coming in November.

Budget 2025

Budget 2025 was announced last month, and it contained a €1.2 billion social welfare package “targeted to those with the greatest need”, according to Public Expenditure Minister Paschal Donohoe.

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This included a €12 increase to weekly social welfare payments, while parent’s payments increased by €15, and the increase for a qualified child weekly rates went up by €4 for under 12s and by €8 for over 12s.

In addition to these long-term increases, a series of 10 lump sum cost of living payments were also confirmed, the first of which - the October Bonus - has already arrived.

This month social welfare recipients are in line for seven major boosts, with several dates pinpointed for once-of payments:

• Once-off payment of €300 to people getting Fuel Allowance in the week beginning November 4
• Once-off payment of €400 to people getting the Working Family Payment in the week beginning November 4
• Once-off payment of €400 to people getting Disability Allowance, Invalidity Pension or Blind Pension on November 4
• First of two double payments of Child Benefit for each child on November 5 (the second on December 3)
• Once-off payment of €200 to people getting the Living Alone Increase in the week beginning November 11
• Once-off payment of €400 to people getting Domiciliary Care Allowance and/or the Carer's Support Grant in the week beginning November 11
• Once-off payment of €100 for each qualifying child to people who get an increase for a qualified child in the week beginning November 25

Vacant Homes Tax

Also announced during Budget 2025 was that the Vacant Homes Tax will increase from five to seven times the property's existing base Local Property Tax rate. The increase will take effect from the next chargeable period, starting this November.

This is an annual tax that applies on November 1 each year and was introduced in 2023. VHT applies to property that can be lived in and has been stayed in for less than 30 days in the previous 12 months

At the time, Housing Minister Darragh O'Brien explained: “Our efforts to tackle vacancy and dereliction continue, and while our vacancy grants provide real incentive for those wishing to turn a vacant or derelict property into a home, the Vacant Property Tax which is increasing from five times LPT to seven times, will penalise those who willingly leave a home empty."

Electric Ireland

It was previously announced that Electric Ireland will be decreasing their prices from November 1. This means that standard electricity and gas rates will be reduced by 3% while standard smart electricity rates will be reduced by 5%. This will save households €45 a year on their electricity and €40 a year on their gas on average.

Daragh Cassidy from Bonkers.ie reacted to the news at the time, saying: "As we head into the colder autumn and winter months it’s nice to be talking about falling energy prices as opposed to rising prices. Even if the size of the price cut is very small. But every little helps as they say.

"However the CRU recently sanctioned an increase in electricity network fees that are equivalent to over €100 a year per household. The energy regulator also sanctioned an increase in gas network fees of €60 on average per household. Electric Ireland, like all energy suppliers, has to pay these fees.

"So the small reductions need to be seen in that context. Had the grid fee increase not been sanctioned we’d likely have been looking at a bigger price drop from Electric Ireland today. Although this is Electric Ireland’s third price cut in under a year, its electricity prices still remain over 80% above where they were in early 2021 before supply shocks due to Covid and then the war in Ukraine wreaked havoc with energy prices. And its gas prices are over double pre-war levels. This means customers of Electric Ireland will still be paying well over €1,000 a year more for their gas and electricity than they were only a few years ago."

Energy credit

Every home in Ireland will get €250 off their energy bills in the coming months in a bid to help - with the first installment of €125 is coming this month, while the second will come in the New Year.

The scheme applies to every household electricity account holder in Ireland, an estimated 2.25 million properties, with the money due to be deducted automatically. Households will not need to apply for it and most will not need to contact their electricity supplier.

Energy expert Eoin Clarke from Switcher.ie explained that the exact timings of the credits will depend on individual suppliers. He said: “The first €125 credit will be paid to electricity customers from this Friday, November 1. The exact date depends on your billing cycle, so those who pay every two months may have to wait a little longer."

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