SSE Airtricity said it would forego all profits this year in order to provide support to its domestic customers.
The energy firm saw its operating profits rise to €17 million in the first half of its financial year, up from a loss of €3.4 million the same time last year.
SSE Airtricity raised its prices for customers in October, with electricity bills increasing by over 35 per cent, and gas 39 per cent.
As the Irish Examiner reports, SSE chief executive Alistair Phillips-Davies said that the firm would do "everything we can to support our customers this winter".
The company was buoyed by strong performances from its thermal power plants amid high energy prices.
The decision follows a recent announcement by the EU to introduce a cap on energy profits. Ireland is set to receive up to €2bn from this windfall tax.
SSE Airtricity has not yet detailed how it will use these profits to support people.
“We know families are struggling during this cost-of-living crisis and as a responsible business we are providing the most comprehensive support package of any energy company in Ireland,” said Mr Phillips-Davies.
The company has already invested in support programmes for vulnerable customers this year.
The company said it will also continue to invest significantly in Ireland’s clean energy infrastructure with current and potential projects, including the 104MW Yellow River onshore wind farm in Co Offaly. This project entered construction in the last week and is expected to support over 100 full-time jobs at peak delivery.
SSE Airtricity is the largest provider of renewable energy in Ireland, with almost 700MW of installed onshore wind capacity, SSE generates enough clean electricity to power almost half a million homes annually.
SSE Airtricity provides energy to more than 700,000 homes across the island of Ireland.
