Electric Ireland introduce Pay As You Go Electricity
New PAYG electricity tariff now available to both new and existing Electric Ireland customers
Electric launches new Pay As You Go Electricity tariff[/caption] Electric Ireland is the first of the major energy suppliers to officially launch a Pay As You Go Electricity tariff in Ireland.
The new tariff is available to both new and existing customers on a voluntary basis, and not just for customers who are having difficulty paying their bills.
With this new PAYG tariff, Electric Ireland are giving customers the opportunity to purchase their electricity in advance, making it easier for customers who might find it hard to to monitor and stay in control of their electricity usage.
How it works
The supplier insists that the new tariff is simple and straightforward and will allow customers to avail of a €5 credit fund in case of emergencies. Details of the remaining credit will be displayed on the screen of the in-home keypad that each Pay As You Go customer will receive.
Electric Ireland will give customers who sign up a free €20 bonus credit to get started. Customers can top up online at www.electricireland.ie or through Payzone and Paypoint outlets.
Pricing The tariff unit rate and standing charge works out as the same price as Electric Ireland’s standard electricity unit rate. The first year cost does not include a prepayment service charge, although customers will need to pay €99 (inc. VAT), to install the meter in their homes.
The meter installation fee can either be paid as a once off payment or in the form of a 25% debit from each top up amount until the installation fee is paid back in full. In the second year customers will need to pay a prepayment service charge of 12 cent (inc. VAT) per day which equates to €44 annually.
Currently Electric Ireland’s prepayment service charge is €93 cheaper than both established prepay electricity suppliers, Pinergy and PrePayPower. Both of these suppliers have the same annual prepayment service charge of €137.
Speaking at the launch of Electric Ireland’s Pay As You Go meters, Ken McKervey, Commercial Manager, said “This product is a direct response to our customer needs, we know customers like to be in control of their finances and also have the benefits of monitoring the impact of their energy usage.
Electric Ireland already offer the broadest range of payment options for customers and we believe the addition of Pay As You Go electricity provides greater choice for customers and demonstrates our understanding of customer needs.” Tariff summary: Pay As You Go Electricity
- You will receive no bill
- Includes a €20 sign up bonus to get you started
- A special Pay-As-You-Go meter will be installed for you by Electric Ireland
- An installation fee of €99 (inc. VAT) is included in the Year 1 cost
- 12 month contract
- Cancellation fee of €50.00 applies