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Yet another price increase: Pinergy rates to go up by 5.6% from December

This brings to six the number of price increases since September.

Hot on the heels of the Flogas price increase announcement this morning, Pinergy has now announced that it too plans to increase its prices.

Electricity unit rates will be going up by 5.6% from 1 December, which means an increase of just over €40 per year for an average user.

Pay-as-you-go electricity

What makes Pinergy different from the other suppliers who have announced hikes so far is that it is a pay-as-you-go (PAYG) electricity supplier. This means that - unlike other methods of paying for electricity where payment is usually done bi-monthly or monthly - you top up your meter before energy is used, so you can’t use more energy than you can afford.

If you are with Pinergy to help manage costs and are worried about this increase, you do have options.

If you want to stick with PAYG electricity, both Electric Ireland and PrePayPower offer PAYG plans, so take a look at their options and see if you might get a better deal by switching.

There are savings to be made

However, bear in mind that just because you’ve previously chosen a PAYG deal doesn’t mean you have to stay on one. These plans do tend to be more expensive in terms of unit rates, so you could make savings by switching back to a pay-monthly or bi-monthly tariff - but whether you want to do so will depend on your own circumstances.

Either way, it’s worth taking a look around at all of the deals out there to see if there’s on to suit you. You can compare deals and make a switch quickly and easily, and the average customer could save up to €362 by moving from standard tariffs to the cheapest deals on the market.

Take a look at deals now