Pinergy will raise its prices from September

Pinergy has become the latest energy provider to announce a price increase, after raising prices five times last year.

Your standard residential electricity prices will go up starting September 5. The latest change will mean a 19.2% increase in the cost of the typical household, which is equivalent to an increase of €7.21 per week in the Estimated Annual Bill based on a domestic customer using typical consumption. per year on standard rates.

Pinergy is also increasing its prepaid daily rate by 24% and its permanent daily rate by 30%.

Prepaid customers with all providers pay an additional charge for their prepaid meter, as well as the ongoing daily charge that all normal bill pay customers pay.

The measure will affect around 27,000 customers and will mean around €375 per year in the average customer’s electricity bill

While this is Pinergy’s first price increase of the year, it raised its prices five times last year, the last of which was in December, when it raised its electricity price by 19%.

Taking into account all the price increases since the beginning of 2021, Pinergy customers are paying around €1,150 more for their electricity.

Pinergy said the increase is the result of unprecedented upward and volatile price trends in wholesale energy markets domestically and globally.

Pinergy CEO Enda Gunnell says: “As an independent energy provider, we have absorbed as much of the current wholesale price increases as possible in recent months.”

Daragh Cassidy, Head of Communications at bonkers.ie, said: “We are heading into this winter with energy prices at absolutely astronomical levels and things are going to get worse. We are likely to see another round of price increases in a few weeks.”

“To say these are unprecedented times is an understatement,” Cassidy said. “Since January 2021, the average electricity bill has risen by €900 per year and the average gas bill by €800.

He said that Pinergy doesn’t make any money from generating electricity, so it is highly exposed to rising energy prices.

Gunnell said: “Frustratingly, this winter Irish households and SMEs will have to contend with higher energy prices in a market we feel is in need of reform. The Irish energy supply market is changing and we have seen a number of providers just come out citing the structural challenges in Ireland. We need to create a more level playing field for all energy providers.”

He said Pinergy customers are empowered with smart technologies that allow them to see their energy usage day in and day out.

“This winter, we’ll encourage our home customers to make sure they log into our app and gather their own insights into their electricity usage. We estimate that 15-20% of energy in the home can be wasted. Everyone “We know the cheapest unit of energy is the unit of energy you don’t use. We’ll also do our best to help those customers who may need assistance with persistently rising energy costs.”

Cassidy said the government must decide now how it plans to help households in the coming months. “Will the temporary VAT reduction be maintained? Will another energy credit be paid? Will the Government impose a windfall profits tax on energy companies and, if so, how would this work when many are based abroad? ?”

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