Pinergy to raise electricity prices for a second time in three months
Pinergy have announced a price increase from next month.
The company said it is to raise its electricity prices by 7.89% from November 7, which will add €66.04 to the average annual electricity bill.
They said the latest hike is "unavoidable, due to wholesale energy prices which have risen by 16% in the last quarter".
It comes after similar announcements from Flogas and Panda Power announced price increases in the last two weeks.
In August, Pinergy increased its electricity prices by 9.38%, which saw a €71.76 annual increase for electricity customers.
The combination of the two Pinergy price rises amounts to €137.80 being added to average annual electricity bills in the space of just three months.
Enda Gunnell, CEO of Pinergy, said: “We very much regret another price increase to our customers so soon after the last and have minimised any changes to our tariffs in order to limit the impact.
"Unfortunately, there continues to be a sustained period of commodity price increases, in particular gas and oil.
"While we continuously work to achieve efficiencies with our customers, we are directly impacted by increased wholesale energy costs on global markets.”
