Monday 15 July 2019

Consumers to feel the winter bite as further energy price rises on the way

A number of suppliers including Energia, SSE Airtricity, and Electric Ireland have all hiked their energy prices in recent months. Stock image
A number of suppliers including Energia, SSE Airtricity, and Electric Ireland have all hiked their energy prices in recent months. Stock image
Charlie Weston

Charlie Weston

A THIRD energy supplier has signalled that it is increasing its prices.

Pinergy said its electricity prices will rise by 7.89pc from next month, in a move that will add an extra €66 to annual bills.

It comes after Flogas and Panda Power already announced price increases in the past few days for the winter.

In the summer most energy providers raised their tariffs.

Pinergy, which offers smart metres to customers, blamed what it said was a sustained increase in wholesale energy costs on global markets. It said wholesale costs have risen by almost a third since the start of the year.

Its new rates will take effect from November 7 next.

The supplier raised its prices in August by 9.38pc, a move that added €72 to the average annual bill.

This means the two hikes will result in extra costs for households of €138 over a full year.

The latest series of hikes comes as the Budget is expected to see carbon taxes rise, in a deveopment that will send up the price of gas, heating oil, coal and briquettes.

A number of suppliers, including Energia, SSE Airtricity, and Electric Ireland, have all hiked their energy prices in recent months.

The Commission for the Regulation of Utilities (CRU) said last week that the average consumer can make savings of €300 a year by switching electricity and gas providers.

However, the good news for householders is that the levy on all electricity bills came down from last week.

The Public Service Obligation (PSO), which is in place to support renewable energy generation and peat-fired power stations, will be cut by €57 a year. This is down from its current cost of €105.

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