Third winter price hike announced as Pinergy put their prices up by 7.89% from 1 November
Second Pinergy increase for 2018 could add €66.04 onto the average annual electricity bill.
The winter energy price rises are now coming in thick and fast, with Pinergy the third supplier in less than two weeks to announce a price increase.
The latest hike will see prices increase by 7.89% from 7 November - adding €66.04 onto the average annual electricity bill. Combine this with the first increase of €137.80 earlier in the year from Pinergy (which came into effect in August) and customers will see their bills go up by a total of €137.80.
Similarly to Flogas and Panda Power - who also announced a second round of price rises in the last few weeks - Pinergy say the unavoidable need to increases prices is a result of rising wholesales costs which have gone up 16% in the last quarter.
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I’m a Pinergy customer, what can I do?
If you haven’t switched your energy in the last 12 months we urge you to do so, as even with the recent price hikes you can still save money by switching.
Right now an average dual fuel customer can save up to €289 by switching from standard tariffs to the cheapest deals in the market. There are also other ways you can save on your energy bills by taking some energy-saving measures around the home.
“As we suspected, the price hike announcements are coming in thick and fast”
Eoin Clarke, Managing Director of Switcher.ie, said of the latest price hike: “We last saw a spate of hikes back in August, which sent bills shooting up by up to €180 per year. If you didn’t switch at that stage, you’re already paying over the odds for your energy - and bills are about to rise again. If you’re impacted by one of these price rise announcements, or you’re worried your supplier is going to raise rates, now is the time to take action.”
He also wanted to remind customers that by making their homes more energy efficient and by switching their energy, there are plenty of savings to be had coming into winter.