Yuno Energy enters the Irish market - Radio Kerry
Daragh Cassidy, Head of Communications at bonkers.ie, appeared on Radio Kerry to discuss the big news, as well as to explain the state of consumer energy in Ireland.
Listen to the interview above or look at the main points discussed below.
Main points from the interview:
- More competition usually leads to lower prices for consumers, so the addition of Yuno Energy to the Irish market is a positive step in the context of sky-high prices.
- Yuno Energy will enter the market with a competitive rate, undercutting the main suppliers in Ireland.
- Unfortunately, wholesale prices for electricity are still over double what they were in 2020, meaning that electricity prices on the whole are going to stay relatively high.
- Yuno is offering a variable and a fixed tariff. The fixed tariff offers a competitive unit rate at 38 cent. However, this still compares unfavourably to the European average of 26 cent, and the 22 cent average available in Ireland in 2020.
- The introduction of the carbon tax on gas could add up to 10% to people’s energy bills later this year.
- The transition to renewable energy will be very costly and require lots of investment. Price guarantees on renewable energy mean that it will not necessarily lead to lower prices on people’s bills.
- Due to the entrance of Yuno Energy, some of the main suppliers may lower their unit rates to around 38 cents in the coming weeks.
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