ESB Networks has said it does not intend to cut the power supply to the Priory Hall apartments in north Dublin.
The 187-unit complex in Donaghmede was evacuated in October on foot of a High Court order after it was found to be a fire hazard.
The Priory Hall Residents' Committee last night said it was devastated to receive written notification from Dublin City Council stating that the power supply was to be cut.
The committee said that drainage problems had previously damaged homes in the complex, as the basement is liable to flooding, and that the loss of power would mean the pumps used to remove water would stop working.
"The resultant water ingression and flooding will cause further deteroriation to our homes and we fear the development will deteriorate even further," the committee said.
A spokesman for ESB Networks said there were no plans to cut the power supply to Priory Hall. He said there were some safety concerns recently about a switch room at the complex but that the problem had been addressed.
An energy supplier contacted ESB Networks in November seeking to have the supply to communal areas in Priory Hall disconnected because of non-payment by the landlord.
More than 250 residents are still being temporarily housed in other properties pending repair work to the apartments. The cost of remediation on the complex could total €7.3 million, or €39,000 for each apartment.
Priory Hall was built by Coalport Building Company, of which Thomas McFeely, a recently declared bankrupt, was a director. No work has been carried out at the site since November, the committee said.