Following sustained increases in wholesale energy costs on global markets, Pinergy, the smart energy provider, has today announced it is increasing its standard household energy prices from 1 August 2018.
The change will result in a unit rate price increase of 9.38%, following a period that has seen wholesale energy prices rise by 36% in the past three months, when compared to the same period in 2017. 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 19.6c per day or €1.38 per week.
Today’s announcement is only the second price increase to be implemented by Pinergy in over four years. The new standard unit rates remain among some of the most competitive rates available.
Enda Gunnell, CEO of Pinergy said: “We very much regret these price increases to our customers and have minimised any changes to our tariffs in order to limit the impact.Over the past year, we have been impacted by a sustained period of commodity price increases, in particular gas and oil. While we continuously work to achieve efficiencies, we are directly impacted by increased wholesale energy costs on global markets.Unfortunately, the business cannot absorb all of these price increases directly, which is why we are now having to pass on some of this pricing trend in the announcement today.”
He continued: “We would always urge energy customers to take a more proactive approach in managing and monitoring their energy usage through smart technology meters and deploying energy efficient technology such as LED lighting in order to achieve savings and become more energy efficient.Our experience to date is that many users of our smart technology can enjoy savings of over 20% through more efficient energy usage and waste reduction,”
New Standard Rates – effective from August 1st 2018
| 24 Hour Standard Rate (ex. VAT) | Daytime Standard Rate (ex VAT) | Night-time Standard Rate (ex VAT) |
| 17.49c | 18.22c | 9.76c |