Pinergy has just announced that it is to increase its electricity prices by 7.89% from 7 November. The increase will add €66.04 onto the average annual electricity bill.
The company says the latest hike is unavoidable, due to wholesale energy prices which have risen by 16% in the last quarter. It comes hot on the heels of similar announcements from Flogas and Panda Power, who both announced price increases in the last two weeks.
In August, Pinergy increased its electricity prices by 9.38%, which saw a €71.76 annual increase for electricity customers. The combination of the two Pinergy price rises amounts to €137.80 being added electricity bills in the space of just three months.
Eoin Clarke, Managing Director of Switcher.ie, says: “As we suspected, the price hike announcements are coming in thick and fast now, and it’s highly likely even more suppliers will follow suit in the coming weeks.
“We last saw a spate of hikes back in August, which sent bills shooting up by up to €180 per year. If you didn’t switch at that stage, you’re already paying over the odds for your energy – and bills are about to rise again. If you’re impacted by one of these price rise announcements, or you’re worried your supplier is going to raise rates, now is the time to take action. Switching to a discounted rate could save you hundreds of Euro – and there are also fixed-rate plans on the market if you want some extra peace of mind.
“If you did switch during the last round of price rises, you may still be in contract and liable to pay an early exit fee if you decide to break your contract early. However, there are discounts available for things like paying by Direct Debit, and receiving bills online, so it’s worth contacting your supplier to discuss these options. You can also cut back on your bills by implementing some energy-saving measures at home. Either way, it’s really important that you don’t just sit back and let these hikes take hold, as they’re going to have a huge impact on your bills.”
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 more energy-saving tips, consumers can check out Switcher.ie’s free energy-saving guides: https://switcher.ie/gas-electricity/guides/energy-saving/.
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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