Electric Ireland is the second energy company to announce its forgoing profits.
It said in a statement it will give each residential customer a €50 credit.
Last month, SSE Airtricity announced it would put its profits towards helping customers for 2022.
A €50 credit will be given to each residential electricity customer with Electric Ireland will be paid in the New Year, according to the company.
The firm says it is increasing its contributions to a hardship fund to help customers who have difficulties paying bills.
Anyone who has a problem with their bills is encouraged to contact Electric Ireland.
There is a disconnection moratorium in place until the end of March 2023, meaning nobody will lose power.
