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Energia becomes fourth supplier to hike electricity prices

The 3.9% increase will come into effect on 1 December

This morning, Energia has announced that it is increasing its electricity prices by 3.9% from 1 December. This amounts to a daily increase of €0.09 for an average electricity customer, which is €31 per year.

This makes Energia the fourth energy supplier to announce an increase in the last 4 weeks. SSE Airtricity’s electricity prices and Bord Gáis Energy gas and electricity prices are going up from 1 November, while Electric Ireland electricity prices will increase on 1 February next year.

On top of this, the PSO Levy, which all electricity customers must pay, went up by almost €25 per year on 1 October.

Nine in ten will face an electricity increase

Taking all of the announcements into account, this means that over nine in ten electricity customers in Ireland will see their prices go up in the coming months, and we all know that winter bills are typically the highest already.

However, you don’t need to sit back and just wait for your bills to go up. Only about 15% of Irish consumers switch energy supplier each year, which means most of us are paying more than we need to for our energy.

“Now is the time to take action”

But, despite these rises, the market is competitive, with some heavily-discounted plans available to new customers signing up, along with ongoing discounts for things like paying by Direct Debit, always paying on time, and opting to receive bills online.

Eoin Clarke, Switcher.ie’s Managing Director says: “Now is the time to take action to combat these hikes. Think about the last time you switched your energy - if it was more than a year ago, take a few minutes now to review the deals that are out there and see how much you could save.

“An average dual fuel customer switching from typical standard tariffs to the cheapest deals on the market can save up to €331, and you’ll save even more if you have higher consumption.”

Switch now

Comparing deals and making a switch only takes a few minutes, and all suppliers use the same cables to supply electricity to your home, so you don’t need to worry about any loss in service, either.

You can use Switcher.ie’s gas and electricity comparison tool to get started, and you’ll be enjoying lower bills in no time.