Tips & Guides

Unprecedented wholesale energy prices lead Pinergy to announce further price increase

Pinergy
01 November 2021

Pinergy, the smart clean energy supply & solutions company has today announced a further increase to its standard residential energy prices from 1st December 2021. The series of increases over 2021 have been caused by the continuing and  unprecedented upward pricing pressures in the global wholesale energy market coupled with domestic electricity market supply issues.

The latest change will result in a 19% increase to the typical household cost which is equivalent to a €5.63 per week increase (incl. VAT) in the Estimated Annual Bill (EAB) based on a domestic customer using typical consumption per annum on standard tariffs.

Pinergy CEO, Enda Gunnell, says: “Regrettably we are still experiencing sustained and well-publicised issues that continue to impact on rising global wholesale energy costs that are directly hitting households and businesses, together with the real risks to electricity supply.

“This Irish and international energy crisis is still unresolved despite the attention it is now receiving at an international geo-political level and is forcing suppliers, like Pinergy to pass on increases.”

He continued: “As winter approaches, the energy crunch will demand further urgent talks, negotiations and market reforms at national, EU and international levels to resolve what is fast becoming an unsustainable and dysfunctional market.

“I would like to continue to reassure our customers that at Pinergy, we will be doing our best to continue to offer value, data-led insights & renewable energy to help them to better manage their energy usage and sustainability goals. We will of course continue to review pricing and when the market creates the right opportunities, we will look to reverse this upward pricing trend as soon as is practical.”

 

New Standard Rates & Standing Charges – effective from 1 December 2021

24 Hour Standard Rate (ex. VAT): 33.70c/kWh

Standing Charge (ex. VAT): 54.81c/day

Daytime Standard Rate (ex VAT): 34.61c/kWh

Night-time Standard Rate (ex VAT): 24.56c/kWh

Standing Charge (ex. VAT): 71.70c/day