Pinergy is now the second supplier to increase its energy prices in 2021 after SSE Airtricity.
It’s not the first price increase and it likely won’t be the last of the year, but renewable energy provider Pinergy is the latest energy company to announce a price increase for its customers.
From 1st April Pinergy will increase its standard residential electricity prices by 4.2%.
The announcement follows a similar one from SSE Airtricity who was the first supplier in 2021 to announce a price increase for its customers on Friday 26th February.
What the price change means for customers
If you’re a Pinergy customer, the 4.2% change will result in an increase of 1.10 cent to your standard unit rate.
This translates to an increase of around €53 a year for a typical household, based on average energy consumption figures.
There is no change to Pinergy's standing charge, however.
Pinergy's new standard rates effective from 1st April can be seen below.
- 24-Hour Standard Rate (ex. VAT): 19.98c/kWh
- Daytime Standard Rate (ex VAT): 20.74c/kWh
- Night-time Standard Rate (ex VAT): 12.30c/kWh
Similar to SSE Airtricity, Pinergy has blamed wholesale energy markets as cause for the increase in its prices.
Speaking about the recent price increase, Enda Gunnell, Pinergy CEO, said:
As an independent supplier of electricity, we purchase electricity for our customers exclusively from the wholesale energy markets. Unfortunately, due to increased pricing in these global markets we are announcing a price increase for our customers today. We keep our pricing under constant review and are disappointed that we have been forced to increase prices at this time.”
However, we believe that customers can create their own savings by continuing to best use Pinergy’s smart technology and advisory services to more efficiently manage their energy consumption at home. We are seeing customers enjoy savings using our smart energy technology which allows consumers to better manage their energy usage and reduce waste.
Second increase for customers
The 4.2% increase is the second price hike announced by the supplier in less than six months, having only announced a 2.7% increase which came into effect on November 1st 2020.
Before that Pinergy decreased the price of its electricity by -2.6% in June of the same year.
New smart tariffs
The smart energy company also recently announced a range of new smart tariffs available for sign up to customers who have a smart meter installed.
Among the new tariffs launched include a ‘Drive Time’ plan which enables owners of Electric Vehicles to charge their cars for a discounted unit rate of only 5c between certain hours at night.
A recent spate of increases
In recent months, there has been a spate of energy price increases with most suppliers raising costs.
- Pinergy has since announced two more price increases. It raised electricity prices in May and will once again increase prices in August.
- To see a full list of all the supplier price increases this year have a read of this blog.
- For a more detailed analysis of why energy prices are increasing check out our blog on the topic here.
Switch and save
The quickest and easiest way to make sure you’re always getting the best deal for your energy needs is by comparing and switching suppliers on bonkers.ie.
At the moment someone who is paying standard rates and who switches suppliers could save themselves around €500 a year on average. It’s super quick and easy to switch and can all be done on bonkers.ie in a matter of minutes.
If you’re still in contract and don’t want to switch at the moment, consider adjusting your everyday habits around the home in order to save. Check out these 15 ways to use less electricity and save money.
Get in touch
Have you got any questions about Pinergy’s price increase? We’d be happy to help!