The price increase will affect around 170,000 electricity customers and 60,000 gas customers.
After a short reprieve, PrepayPower customers are the latest to be hit with yet another price hike.
The energy supplier has this week announced its second price increase of the year.
Here’s all you need to know if you’re affected.
Price increase
PrepayPower is increasing its standard electricity prices by 12.5%, while its standard gas prices will increase by 21%.
The price change will come into effect from July 1st.
Its latest increase will add approximately €3.05c per week to the average customer's electricity bill and €4.65 extra per week to the average customer's gas bill - or €159 and €242 extra per year, respectively.
Prepay only last increased its prices back in April, which added a similar amount to customers' bills.
Speaking about the latest price hike, a spokesman for the company said:
These increases are a result of rising energy costs internationally. Our hedging strategy has enabled us to avoid some of the larger increases that others have had to pass through but clearly any increase is regrettable.
We are seeing increased use of our mobile app through which customers can actively manage the service to reduce unnecessary usage.
The company also confirmed that it has completed the payment of the €200 energy credit to all relevant customer accounts.
Prepay energy
While prepay energy isn’t for everyone, it does offer a useful alternative for those who like to keep an easy track of their spend on their gas and/or electricity bills.
However in many cases it can be prohibitively more expensive than normal, bill pay plans, especially for heavy energy users, like big families.
At any rate, make sure to read our energy guide on the topic to find out more. You can read more about the pros and cons of prepay electricity here.
Switch supplier on bonkers.ie
Remember, you can compare energy deals across all suppliers in Ireland in minutes right here on bonkers.ie.
Once you’ve found the deal for you it’s also possible to switch there and then, it’s as simple as that.
Choose from our easy-to-use comparison tools for dual fuel, gas, or electricity to see how much you could save. The average energy switcher who switches today on bonkers.ie could save as much as €700!
Don’t forget, we also compare a wide range of services on bonkers.ie. Check out our broadband, banking, and insurance comparison tools to learn more.
Have any questions?
Do you have any questions about PrepayPower's latest price increase? You can ask us in the comments below.
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