Business

Two other energy companies are announcing price increases: Energia and PrePay Power will increase gas and electricity prices from next month

blank

Two more energy companies have announced price increases, bringing the number of suppliers who have increased their fees so far this year to three.

nergia will increase its electricity and gas prices from April 25, while PrePayPower, the provider of prepaid meters, will increase its prices for both fuels from the beginning of next month.

Electricity prices will increase by 9.9 percent and gas prices by 19.9 percent.

PrePayPower, which provides pay-as-you-go meters to its customers, announced three increases last year. Many low-income people use pay-as-you-go meters.

According to David Kerr from the price comparison site Bonkers.ie, the average PrePayPower electricity customer pays EUR 132 more on their annual bill as a result of the increase.

Gas customers, meanwhile, will see their annual bill increase by €182.

The latest increase in PrePayPower represents an annual increase of €374 for the average electricity customer since this time last year and €349 for the average PrePay gas customer one year from now.

The company said its increases over the past year were among the lowest in the market, with increases of less than a third for some suppliers.

Energia’s electricity prices will increase by 15 percent, which will cost the average customer an additional €247 per year.

Gas prices increase by the same percentage in a move that increases the average cost of an annual bill by €180.

Dual fuel customers will also be impacted by a 15 per cent price increase adding €426 to the typical annual bill.

It’s the fourth Energia price hike in 12 months.

The increases are the result of an ongoing period of elevated global energy market prices.

Mr Kerr said the price increases for Energia are the fourth announced in the last 12 months.

The latest Energia announcement means dual-fuel customers have had to pay an additional €1,200 per year since increases began last March.

The recent announcement of a price increase by Bord Gáis means that its dual-fuel customers are also being hit with price increases totaling €1,315 over the last 12 months.

The latest surge comes after Bord Gáis Energy said last week it would increase electricity prices by 27 percent and gas prices by 39 percent. This adds €385 to the average Bord Gáis electricity bill and €390 to the average annual gas bill.

The company is also controversially increasing its base fees by the same percentage, leading to accusations of price gouging.

Andy Meagher, director of customer solutions at Energia in the Republic, said: “Wholesale costs for gas and electricity have increased significantly in recent months.

“We are very aware that these global issues affect our customers locally and we remain committed to providing the best value and service.”

He said the company has been doing its best to absorb increases in wholesale and raw material costs, but these price changes are inevitable.

The customer care team is available to assist customers with difficulties and also plans to partner with the Money Advice and Budgeting Service (MABS) to offer advice and support.

“Overall, we have limited full cost increases to customers where possible and we will continue to monitor the market and work with our customers to help them manage invoices where necessary,” said Mr. Meagher.

Energia says it gets the electricity it supplies to homes from renewable sources.

The prices that all electricity producers receive, even if they feed wind into the grid, are determined by the grid operator through regular auctions.

These prices are determined by the highest bid in each auction, typically gas generated electricity.

This means that electricity from wind farms costs the same as electricity from coal or gas.

The three new price increase announcements this year join 35 different price increase announcements from last year which will increase typical electricity and gas bills by around €500.

Consumers are due a €200 credit on their electricity bills next month and the government is hoping a European Union agreement to cut VAT on energy bills can be reached.

Heating oil has soared more than 50 percent this year, while petrol and diesel prices are at record levels.

Consumers are due a €200 credit on their electricity bills next month and the government is hoping a European Union agreement to cut VAT on energy bills can be reached.

Heating oil has soared more than 50 percent this year, while petrol and diesel prices are at record levels.

https://www.independent.ie/business/personal-finance/two-more-energy-firms-announce-price-rises-energia-and-prepay-power-to-hike-gas-and-electricity-prices-from-next-month-41486803.html Two other energy companies are announcing price increases: Energia and PrePay Power will increase gas and electricity prices from next month

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button