Electric Ireland has announced that it will not increase prices for a second time in 2018, choosing not to take part in the latest trend we've seen from many other energy suppliers.
After a summer where eight out of Ireland's ten energy suppliers increased prices, round two commenced at the end of September, with five of those same suppliers increasing prices for a second time.
But now, the country’s largest electricity supplier, Electric Ireland, has decided to buck the trend in announcing that it will freeze electricity and gas prices this winter, thereby protecting customers from the impact of rising energy costs for the heavy energy usage winter months.
Marguerite Sayers, Executive Director, Customer Solutions, commented: “Given that most other energy suppliers have recently announced price increases, we want to reassure our customers that Electric Ireland continues to offer the best long-term value in the market. We are acutely conscious of the financial pressures facing our customers, especially in the run-up to Christmas, and we are committed to keeping our prices as low as possible for as long as possible.
"We believe today’s announcement will help to provide our customers with some peace of mind about their energy bills in the coming months, giving them one less thing to worry about facing into the winter,” Marguerite added.
Don't count your blessings just yet...
Yes, it can't be denied that as an Electric Ireland customer you can rest easy that your bills won't increase for the remainder of the year but remember - there are less than 6 weeks left in 2018 and there's a strong likelihood that we will see a price increase from the supplier in early 2019.
Energy suppliers have been forced to increase prices in response to continuously rising wholesale gas costs over the last two years and it's unlikely that Electric Ireland (or other suppliers that have yet to increase prices) will be able to hold out for too long.
However, there are steps that you can take to help reduce your consumption and consequently save money.
The quickest way to save money on your energy bills is still to switch energy suppliers if you haven't done so in the last 12 months. The process is quick and easy and should only take you a few minutes to complete. Right now you could save close to €300 in annual savings by switching.