Following four price hikes announced in June, Panda Power and Pinergy have both announced this morning that they are also hiking prices from 1 August.
Panda Power will be increasing their electricity standard unit rate by 5.9% and their gas standard unit rate by 5%. This will mean an increase of almost €80 on a typical dual fuel bill.
Meanwhile, Pinergy will hike its electricity prices by 9.38% from 1 August. The increase will add €71.76 onto the average annual electricity bill.
Eoin Clarke, Managing Director of Switcher.ie, says: “The price increases are coming thick and fast now, with these announcements bringing the total amount of suppliers who are raising their prices to six. There are only 10 energy suppliers in the market, and it’s likely we’ll see all of the remaining four announce similar hikes, too.
“Any increase in energy prices is really bad news for consumers, especially when you consider that energy is a household essential that we can’t live without. The average dual fuel bill for customers on standard tariffs already stands at almost €1,800 per year, which makes up a big chunk of many households’ outgoings, and it seems this price is only going to go up.
“Anyone who hasn’t switched to a new energy supplier in the last year is on what’s known as a standard tariff, which means there are huge savings to be made by switching. The average household could save hundreds of euro by switching from standard tariffs to the cheapest deals on the market, which could go a long way towards offsetting the damage that will be done with these price hikes.”
Switching is straightforward and free. Use Switcher.ie’s free gas and electricity comparison tool to get started – comparing deals and making a switch only takes around 5 minutes.
For further information please contact:
Maeve McLaughlin, Switcher.ie on 01 517 5922/087 133 2526 or firstname.lastname@example.org
Images for use are available on Flickr here.
Switcher.ie launched in January 2013, with the aim of offering consumers free, independent and impartial price comparison and switching services for gas, electricity, home broadband and digital television. Switcher.ie aims to make it easier for Irish households to compare prices, save money on their regular bills, get the best deals on offer and make their hard-earned money go that bit further. Switcher.ie is accredited by the Commission for Regulation of Utilities as an impartial, accurate and independent supplier of domestic energy price comparisons and is a member of Guaranteed Irish.
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