PrepayPower announces further electricity and gas price hike

The energy supplier raised its prices earlier this year and announced three price hikes in 2021. PrepayPower has 170,000 electricity customers and 60,000 gas customers in Ireland.

PrepayPower is set to increase energy prices for its customers from 1 July, the company announced today.

Customers will see a 9.9% increase in the price of electricity and the price of gas is set to rise by 19.9%.

The energy supplier raised its prices earlier this year and announced three price hikes in 2021. PrepayPower has 170,000 electricity customers and 60,000 gas customers in Ireland.

The company provides its customers with pay-as-you-go meters.

PrepayPower said that the average customer should see an increase of approximately €3.05 per week for electricity and a €4.65 increase in their gas bill per week. 

The energy supplier has said that it has completed the payment of the Government's €200 credit to all relevant customer accounts.

A spokesperson for PrepayPower said: "These increases are a result of rising energy costs internationally. Our hedging strategy has enabled us to avoid some of the larger increases that others have had to pass through but clearly, any increase is regrettable.

"We are seeing increased use of our mobile app through which customers can actively manage the service to reduce unnecessary usage," they added.

The Irish Examiner  reported last month that the number of households switching their electricity accounts rose by 51% between March 2021 and March 2022, as more consumers shopped around in the face of surging energy costs.

Data from the Commission for Regulation of Utilities shows that there were 40,575 electricity switches in March, marginally down on the 41,722 switches in February. In addition, 13,952 households switched their gas account in March 2022, up 67% from the same month last year