31 October 2017
Increased wholesale energy costs lead to electricity price increase from December 2017
Following increases in energy wholesale costs, Pinergy, the smart energy provider, has today announced a unit rate price increase of 5.6%. This increase, based on a domestic customer using typical consumption of 4,200 kWh per annum on a 24 hour standard tariff, is the equivalent of 11.2c per day or 3.7% on consumers’ standard household bills. The price increases are due to come into effect on 1st December, 2017.
These price increases are the first implemented by Pinergy since January 2014. They are directly related to a prolonged increase in energy wholesale costs and the recently announced increases in regulated network charges imposed by the Commission for the Regulation of Utilities (CRU), which affect all suppliers. Any Pinergy customers affected by the price change will be notified via their preferred way of topping up over the coming weeks.
Enda Gunnell, CEO of Pinergy said: “We regret these price increases to our customers and have minimised any changes to our tariffs in order to limit the impact. I am pleased to say that we are not increasing standing charges. Today’s decision is not taken lightly and we have held off introducing the price change for as long as possible. However, given the market conditions, it is something we now need to implement.”
He continued: “I would like to assure customers that Pinergy is committed to helping them utilise our smart technology to tackle and reduce their energy spend through more effective monitoring, managing and controlling of their usage. Our experience to date is that users of our smart technology can enjoy savings of up to 20% through more efficient usage and waste reduction, which can more than offset any price increase.”
Pinergy currently has over 35,000 customers and is forecasting further growth within the domestic and SME sectors over the coming months.
For full details on the changes in tariffs please see here