Pinergy become latest energy supplier to announce price cuts

Electric bill charges paper

Pinergy has become the latest energy firm to announce price cuts for their customers - with a drop of 8.4% on their residential prices set to come in later this year.

The cut, which will see an average saving of €183.12 a year for their customers, will come into effect on April 1.

It is the third time in the last 12 months that Pingergy have cut their prices, and follows similar moves from Energia, Electric Ireland and Bord Gais.

However, many critics believe prices are still too high with Irish customers paying much higher rates than their European counterparts.

On Tuesday, we learnt that just under a quarter of a million households in Ireland are in arrears on their electricity bills, while 1,385 were disconnected for non-payment in 2023.

CEO of Pinergy Enda Gunnell said: “We are now pleased to announce a third decrease in just over a year for all our residential customers as wholesale electricity pricing has further eased in recent months. However, inflated and often volatile electricity markets mean the energy crisis is not going away.

"As a country, we need to accelerate the transition to cleaner, lower cost renewable energy for all. As part of the energy transition, we are pleased to be able to hold our 25c per kWh microgeneration payments for customers who are exporting excess electricity from solar panels and other micro generation technologies. 

"This is a great example of encouraging households to participate in the energy transition and be rewarded for their investment for cleaner energy. We need to see more of these incentives being introduced to accelerate the transition to cheaper, renewable energy.”