SSE Airtricity price hike announcement - KFM
SSE Airtricity has announced a significant increase to its energy prices - a 46.3% increase to its standard gas rates and 45.2% for its standard electricity rates. The standing charges for both are also going up by 8%. You can read all about it here.
Our Head of Communications at bonkers.ie, Daragh Cassidy appeared on KFM to discuss the effects of the increase and the reasons behind why it's so high.
Listen back to the interview by hitting the play button, or read the main points below.
The main points from the interview
- This increase from SSE Airtricity is potentially the biggest energy price increase that Ireland has ever seen.
- The price of energy on wholesale markets is driving the price increases, and prices are at record levels.
- The increases are coming into effect on the 1st of October and will impact around 250,000 electricity customers and about 85,000 gas customers.
- This price increase will add around €600 a year to electricity bills and €500 more to their gas bills.
- Some price increases we’re seen over the last 18 months have added well over €2,000 a year to gas and electricity bills.
- Annual energy bills could amount to €3,000-4,000 after these price increases are implemented.
- These increases will push more and more people into energy poverty, which is when a person spends more than 10% of their disposable income on energy.
- The CRU has announced a range of measures to ease the financial pressure on consumers. While the measures are welcome, the measures are only temporary.
- If you are struggling to pay your bills, do engage with your supplier. If you ignore the issue, you may have a bad credit record in the future.
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