One of the country’s largest waste collection companies plans to impose double-digit price increases on households starting next month.
anda Recycling, which has 360,000 private customers, is raising garbage collection fees by more than 12 percent and also increasing its service fees.
The company, which changed hands for around €1 billion last year, blames an increase in the cost of diesel for its trucks.
From September 5, the fee for a bin lift will increase by €1.13 to €10.25, an increase of 12.4 percent.
The semi-annual service fee increases by €4.86 to €62.50. That means the annual service fee is €125, an increase of 8.4 percent.
Last December, Panda Recycling announced a 4.8 percent increase in refuse collection services, or €1.20 per month.
This means that a customer who has their bin collected every two weeks pays €50 more per year for their waste collection service.
There is a charge of 80 cents each time the bins are lifted, plus 0.045 cents per kg, which does not change. The cost of lifting compost bins will remain unaffected by the price increases.
Panda does not respond to media inquiries with pricing information originating from an email to a customer and by contacting the company through a “live chat” on its website.
Calls and emails to the company went unanswered.
Panda Recycling said in an email to its customers: “Unfortunately, as has happened in most industries lately, external factors that make up the cost of providing our services to you have increased. Rest assured that we are doing everything we can to minimize these costs.”
When contacted by the Irish Independent Yesterday, waste companies Greyhound Recycling, Oxigen, City Bin and Thorntons Recycling did not respond when asked if they plan to increase their waste collection fees. Earlier this year, Panda told its commercial customers that it charges a “fuel and energy surcharge” of €1 per container lift.
In an email from managing director Derek Dunne to customers, it was said that diesel prices had risen.
Last year Thorntons Waste announced that it had increased its annual service fee from €70 to €75.
The latest figures show that Panda’s owner Beauparc Utilities’ pre-tax profit rose 23.5 percent in 2020 to €34.74 million.
Beauparc owns the waste companies Panda and Greenstar. It also owns Panda Power, an energy utility.
Group sales increased by 4% from €508.38 million to €528.6 million.
The group’s operating result increased by 39 percent to 49.8 million euros, before financing expenses and special items.
In June last year, businessman Eamon Waters sold the company to Australian financial services giant Macquarie.
The sale price was not announced, but is said to have been around 1 billion euros.
Mr Waters was expected to rake in a windfall of around €367m from the sale.
Beauparc operates from the Republic, UK and Netherlands, but Ireland accounts for the bulk of its business.
The company’s other brands include Bioverda, which recovers methane gas from landfills and generates electricity, and A1 Skips.
Increases in garbage collection fees come at a time when a series of price increases are being pushed through, pushing inflation to a 40-year high.
Electricity prices for the average household will increase by €900 per year, and further price increases are to be expected. The price of heating oil has doubled since last year.
Diesel and petrol are on the rise, and grocery bills are expected to be €660 a year higher than last year, according to market research firm Kantar.
Taxi fares are set to rise 12 percent next week.
https://www.independent.ie/business/personal-finance/new-cost-of-living-blow-as-360000-homes-facing-increase-in-bin-charges-41937975.html New living costs skyrocket as 360,000 households in Ireland face increases in waste collection charges