Bord Gais and Pinergy Announce Electricity Price Increase
Both Bord Gais and Pinergy have today announced increases to their electricity prices. For Bord Gais customers, electricity prices will increase by 13.5% along with a 12% increase in the standing charge. This will take effect from the 12th of October. For Pinergy customers, prices will increase by 10% from the 13th of October, but there will no change in their standing charge. Both suppliers cited increasing network charges as one of the main reasons behind these price increases.
How Much Are Bord Gais and Pinergy Increasing Their Electricity Prices By?
Both Bord Gais and Pinergy have announced the following increases for their electricity customers effective from the 12th and 13th October respectively:
- Bord Gais electricity customers – increase of 13.5%
- Bord Gais electricity standing charge – increase of 12%
- Pinergy electricity customers – increase of 10%
Bord Gais gas customers will not be impacted by these price increases.
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Why Are Bord Gais and Pinergy Increasing Their Electricity Prices?
Both electricity suppliers have stated that the price increases are a "response to continued increases in network charges, the impact of wholesale energy markets and the higher cost of doing business".
These charges are a significant part of a consumer's electricity bill, and they are regulated and approved by the Commission for Regulation of Utilities (CRU).
They are designed to cover the costs of:
- Maintaining and upgrading the electricity grid: This includes ensuring the reliability and efficiency of the network.
- Ensuring security of supply: This involves having enough power generation available to meet demand, which sometimes requires bringing more expensive and flexible sources online.
- Addressing network constraints: This refers to the challenges of managing the flow of electricity on the grid, especially with the growing amount of renewable energy sources, like wind and solar, which are intermittent.
- Investing in decarbonisation: Upgrading the grid is essential to accommodate more renewable energy and meet Ireland's climate goals.
Both suppliers have defended the price increases stating that they are the first price increases introduced in the last 3 years by either supplier.
Both stated that network charge increases were absorbed in 2024, but that continued rising costs means that this increase must unfortunately be passed on to customer this year,
The news of this price increase comes two days after Energia announced a 12% price increase for their electricity customers, citing rising costs as the main driver behind their decision.
How Do I Contact Bord Gais and Pinergy Customer Service?
You can contact Bord Gais via their customer service line on (01) 611 01 01, open Monday to Friday 8am-8pm and Saturday's, 9am-5.30pm.
Pinergy customer service can be contacted on 0818 363 749 available 8am to 8pm Monday to Friday and 9.30am to 5pm on Saturdays.
How Will These Price Increase Affect my Bills?
The increase in electricity prices by electricity suppliers will have a direct impact on your bills, and the specific amount will depend on your customer type and usage.
The price changes are a result of higher unit rates and standing charges. A standing charge is a fixed daily fee for maintaining your connection to the grid, while the unit rate is the cost per unit (kWh) of electricity you use.
While the price increase is a significant amount, it's important to remember that these are average figures. Your actual bill will depend on your own energy consumption. The more electricity you use, the greater the monetary impact of the price hike.
It's also worth noting that this is the third electricity supplier in Ireland to raise prices this year, and experts suggest more may follow. This makes it a good time to compare tariffs and consider switching providers to find a better deal.
What Can I Do About Increasing Electricity Prices?
In light of these developments, Selectra urges electricity customers to manage their energy consumption and explore all available options to mitigate the impact of rising costs:
| Strategy | What It Involves | Potential Benefits |
|---|---|---|
| Switch Suppliers | Compare offers from different electricity providers and switch to a new one, especially if you're out of contract. | Significant discounts (often 30% or more) for new customers in their first year. |
| Optimize Flogas Tariff | If you're a Flogas customer, ensure you're on a discounted contract. If you have a smart meter, consider switching to a time-of-use tariff. | Potential savings on night-time usage and overall reduced rates. |
| Actively Manage Usage | Implement energy-saving habits like unplugging electronics, using energy-efficient appliances, optimising heating/cooling, and utilising natural light. | Reduced overall electricity consumption, leading to lower monthly bills. |
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