Energia is now the fourth energy supplier in the space of a week to increase its prices.
The floodgates are now seemingly opened with yet another energy supplier choosing to up its prices since SSE Airtricity became the first to do so this year last Friday.
This time however it’s Energia who’s the latest supplier to announce a price increase, similarly citing increased external market costs as the reason for the price increase being passed on to customers.
See below for the full details!
Price increase
The energy supplier is set to increase its standard electricity rate by 8.6%, its standard gas rate by 5.7%, while the increase for dual customers will be 7.4%.
The price increase is to take effect from April 5th. Here’s what it will add to the average energy customer’s bills.
- Electricity - An extra €1.97 per week, or approximately €102 annually.
- Gas - An extra €0.93 per week, or approximately €48 annually.
- Dual Fuel - An extra €2.90 per week, or approximately €150 annually.
Most recently, Energia reduced its residential gas and electricity prices in June 2020 and introduced a further price freeze up until spring of this year.
However, with the price freeze over the supplier has said that the present increase is unavoidable due to increasing external wholesale market and network costs.
Andy Meagher, Director ROI Customer Solutions at Energia said:
At Energia, we continuously monitor wholesale electricity and gas prices to ensure we can deliver the best value to our customers. In line with this commitment, we announced a price reduction in 2020 across electricity and gas, and kept our prices frozen until the spring of this year. As well as delivering the best value possible we were also aware of the impact of the COVID-19 pandemic on communities.
In our efforts to support households, disconnections were suspended during the lockdown and we have proactively worked with customers who may be experiencing financial difficulty. While increases at this time are unfortunately unavoidable, we remain committed to providing the best value and care to our customers.
Earlier price increases
SSE Airtricity was the first supplier in 2021 to announce a price increase for its customers with a hike of 6.2% and 4.5% on its electricity and gas prices respectively.
Pinergy followed suit only a number of days after with an increase of 4.2% to its standard electricity prices.
Fellow electricity supplier Glowpower also announced a price increase across its tariffs a couple of days later which is scheduled to come into effect on 2nd April.
If you’re looking for more information on the rising cost of energy, take a look at our blog on why energy prices are increasing.
If you’ve been affected by any of the changes and if you’re set to pay more as a result, there’s only one way to pay less...
Switch and save!
For those seeking better value the best option at the moment is to switch.
There’s huge competition for new customers right now among all the suppliers, while the average energy switcher at the moment could save just over €500. But if you haven’t switched provider in some time you could be in for even bigger savings.
It’s quick and easy to switch and with more time being spent at home than ever before, energy usage in households is likely to reach record levels, meaning it’s never been more important to ensure you’re on the most competitive tariff.
You can also read one of our helpful energy guides on switching:
- You only need a few things on hand to switch. Here’s an outline of all you need to change supplier with ease.
- Make the switching process easier by reading our frequently asked questions about switching energy supplier.
- Price is an important factor to consider when choosing an energy supplier, but it’s not the only aspect to consider. Here’s a list of 7 important things to keep in mind when looking into switching.
If you’re still in contract, you could be subject to an early exit fee. Instead, consider making changes to your everyday habits to save money. Here are some ways you can reduce your electricity consumption and save money.
Get in touch with us
Do you have any questions about Energia’s price increase? Let us know in the comments.
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