More bad news for energy customers today after PrePayPower announced that it'll be joining the long line of energy companies that have raised their tariffs recently. The changes will come into place on 1st April, the same day as the recent Electric Ireland price increase comes into effect.
What's increasing?
PrePayPower is increasing its gas and electricity prices by 3.90%.
The price changes mean a customer's typical gas bill will rise by roughly €35 per year and a typical electricity bill by roughly €50 per year.
Just one of many
It has been a rough few months in general for energy customers and this is the second supplier to up its prices this week alone.
Last November and December several of the energy companies announced price hike announcements but PrePayPower chose not to for the winter. So with most of its peers having already hiked their prices before Christmas to reflect higher energy costs, today's announcement from PrePayPower seemed almost inevitable.
A spokesman for PrePayPower stated: “We introduced the price freeze to give our customers certainty during the winter period when energy use is highest.
But wholesale energy prices continue to rise and we have no option now but to increase prices from 1st April. We are now are the last major supplier to announce such an increase.”
For a more detailed explanation as to why prices are continuing to rise, check out this guide we wrote last summer.
Is there any way to avoid the price increases?
It’s not all doom and gloom and there is still some good value to be found out there.
Electricity customers will be glad to hear that the PSO Levy decreased by 56% at the beginning of last August, taking a few euro off your electricity bill every month at least!
And remember that nearly all of the suppliers on the market offer great, one-year discounts to new customers that can help you save hundreds on your annual bills.
Run a quick comparison now and see how much you could save with just a few clicks!
Get in touch
Are you a PrePayPower customer? How do you feel about today's announcement? Get in touch and let us know your thoughts.
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