The Society of Saint Vincent de Paul is calling for a review of the Public Service Obligation (PSO) levy on electricity bills. It comes after the energy regulator gave the go ahead to increase the yearly charge by 50%.

It means the average customer will now pay around €73 a year once VAT is added. It sets the levy at €335.4m for the next period - which runs from October 1st 2014 to September 30th 2015.

This compares with €210.9m allowed for the current 2013/2014 period.

The PSO levy is a subsidy charged to all electricity customers designed by the government, and consists of various subsidy schemes to support its national policy objectives related to renewable energy, indigenous fuels and security of energy supply.

The biggest driver for the year-on-year increase is lower wholesale electricity prices.

The Commission for Energy Regulation (CER) says a lower wholesale price for next year means the PSO plants needing more money to cover their costs in order to offset the lower money they are predicted to receive from the market.

While more renewable energy generation also contributed to the levy increase. The CER says the amount of renewable generation - mostly wind - estimated to receive the PSO levy next year is 138 megawatts more than the current year, resulting in the increasing levy.

John-Mark McCafferty of St Vincent de Paul says it is unfair on hard-pressed consumers.

Charlie Weston of the Irish Independent told Newstalk Lunchtime this increase is a very substantial one.