Another energy supplier hits 170,000 electricity and 60,000 gas customers with double-digit winter price increases

From the beginning of October, PrePayPower CUSTOMERS will be burdened with double-digit price increases for electricity and gas.

Electricity prices are expected to rise by 19 percent and gas prices by 29 percent.

This latest increase will increase annual electricity costs for its customers by €340 per year.

PrePayPower gas customers pay an additional €428 per year.

If the new increase is implemented, the average annual electricity cost for the utility’s customers will increase by €700.

This means that the annual electricity costs for a PrePayPower customer will be around €2,500.

The annual cost of gas increases by €900 over a whole year.

This is the third price increase by PrePayPwer this year.

It last hiked prices in July, when electricity prices rose 12.5% ​​and gas rose 21%. It previously raised its prices by a similar amount in April.

And in 2021, it raised its prices twice.

Daragh Cassidy, from price comparison site Bonkers.ie, said: “We know that people on lower incomes tend to use more prepaid energy than other households, so this will be a particularly hard hit for those households.

“Unfortunately, unless urgent action is taken at EU level to curb price increases, it is almost certain that prices will continue to rise this winter.”

It comes after SSE Airtricity said last week it had increased its electricity costs by more than 35 percent and its gas costs by 39 percent from early October.

Since the beginning of last year, there have been more than 50 separate price increase announcements by the various electricity and gas providers in this country.

PrepayPower sells electricity and gas to private customers on a pay-as-you-go basis.

The company has 170,000 electricity customers and 60,000 gas customers.

PrepayPower customers top up their meters and control their energy consumption via a smartphone app or by purchasing credit at newsagents or other stores.

The supplier said the changes are expected to increase costs by an average of €6.53 for electricity and €8.24 for gas per week.

A PrePayPower spokesman said: “Unfortunately, rising international wholesale costs make price increases for customers inevitable.

“Without our extensive hedging operations, these increases should have been significantly higher. We continue to work hard to protect our customers from the impact of these international developments as much as possible.”

Energy prices have more than doubled for a large number of households and further increases are expected.

https://www.independent.ie/business/personal-finance/pensions/another-energy-supplier-hits-170000-electricity-and-60000-gas-customers-with-double-digit-winter-price-hikes-41950932.html Another energy supplier hits 170,000 electricity and 60,000 gas customers with double-digit winter price increases

Fry Electronics Team

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