Pinergy to raise electricity prices for a second time in three months

Pinergy to raise electricity prices for a second time in three months

Pinergy have announced a price increase from next month.

The company said it is to raise its electricity prices by 7.89% from November 7, which will add €66.04 to the average annual electricity bill.

They said the latest hike is "unavoidable, due to wholesale energy prices which have risen by 16% in the last quarter".

It comes after similar announcements from Flogas and Panda Power 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 to average annual electricity bills in the space of just three months.

Enda Gunnell, CEO of Pinergy, said: “We very much regret another price increase to our customers so soon after the last and have minimised any changes to our tariffs in order to limit the impact.

"Unfortunately, there continues to be a sustained period of commodity price increases, in particular gas and oil.

"While we continuously work to achieve efficiencies with our customers, we are directly impacted by increased wholesale energy costs on global markets.”

More on this topic

Growing concern over our energy useGrowing concern over our energy use

Bord Gáis announces 4% reduction in household gas pricesBord Gáis announces 4% reduction in household gas prices

British regulator orders €81 cut in household billsBritish regulator orders €81 cut in household bills

1m customers to see gas and electricity bills increase from today1m customers to see gas and electricity bills increase from today


More in this Section

Gardaí seize almost €1.5m of cocaine in DroghedaGardaí seize almost €1.5m of cocaine in Drogheda

President Higgins to attend special screening of climate change film at conference in CorkPresident Higgins to attend special screening of climate change film at conference in Cork

Woman stored bag which contained €59k of drugsWoman stored bag which contained €59k of drugs

Woman stole over €40k from smartphone firm to repay other theftsWoman stole over €40k from smartphone firm to repay other thefts


Lifestyle

The Cosmetify Index reveals the cosmetics companies that are generating the most buzz online – and Dubai-based Huda Kattan has the top spot.Huda Beauty tops the 10 ‘most popular’ beauty brands this year

Read the script of Kya deLongchamps’ kitchen-sink drama to set the scene to make an informed choice when selecting this home essentialTake the plunge: Read this checklist before you splash out on your new kitchen sink

SOMETIMES, the journey is more important than the destination. And sometimes, we just want to sit at home eating a bag of jelly beans, while thinking about more jelly beans. Life is only as significant or special as we make it.GameTech: Death Stranding is a divisive, beautiful journey packaged in a cool world

Former Oasis drummer Tony McCarroll tells Richard Purden about the mad times when five Manc-Irish lads became one of the biggest rock bands in the worldNot looking back in anger: Former Oasis drummer looks back at the mad times of one of the biggest rock bands in the world

More From The Irish Examiner