Electric Ireland's 1.1 million customers will get a €50 credit in the new year.
It will only apply for residential electricity customers - as the company has also announced it's forgoing its profits.
Electric Ireland is also putting more money into its hardship fund - it's increasing the fund by €3m.
Last month SSE Airtricity made a similar announcement.
Pat Fenlon, Executive Director, Electric Ireland says: "2022 has been a very challenging year for energy customers, primarily as a result of increases in international gas prices.
"We are acutely aware of the pressures that customers face this winter and, recognising these exceptional circumstances, Electric Ireland is forgoing profit from its residential electricity business.
"Electric Ireland’s residential customers can each expect to receive €50 credit in the New Year.”
"In addition, increasing the Electric Ireland Hardship Fund by €2 million to bring it to €5 million, will help ensure the fund is accessible to those most in need of support during the Winter months.
"We are committed to helping any of our customers who experience financial difficulty. As always, we encourage any Electric Ireland customer who has difficulty in paying their energy bill to engage with us and we will work with them to put a manageable payment plan in place."
