Yuno Energy Announces Price Freeze on Electricity Prices
Yuno Energy have announced a price freeze on their electricity and gas prices during the coming winter months. The supplier stated that any price increases that may happen will not happen until March of next year at the earliest. The news comes the week after PrepayPower, the parent company of Yuno Energy, announced it would also freeze its prices for the duration of the winter months. Several prominent energy providers have recently announced increases to their electricity prices, placing further pressure on homeowners already dealing with the ever-increasing cost of living.
Why Have Yuno Energy Not Increased Their Prices?
In contrast to other electricity suppliers, Yuno Energy have announced that it will not be increasing their prices, with any increase only occurring in March of next year at the earliest.
Speaking on the matter, Yuno Energy's chief executive Cathal Fay stated:
The absence of universal energy credits this winter would make customers more price sensitive than ever.
He added that:.
The coming winter is going to be difficult for many customers and we believe that this announcement will reassure both existing and new customers that they can have predictability about energy costs for the coming months.
Yuno Energy's parent company, PrepayPower, announced last week that they would also be freezing their electricity and gas prices.
Electric Ireland are the only other electricity supplier who have opted not to increase their prices, contrasting to the host of other prominent suppliers who have announced price increases in the last few weeks.
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Why Are Electricity Suppliers Increasing Their Prices?
Electricity suppliers such as Bord Gais, Energia and SSE Airtricity have all announced significant price increases set to take effect this month affecting over 1,000,000 households across the country.
They 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.
The primary driver cited by suppliers is the Commission for Regulation of Utilities (CRU)-approved increase in network charges, which took effect on October 1st. These charges, which cover the costs of maintaining and upgrading the national grid, have seen a substantial rise.
On average, network charges account for roughly 25-30% of a residential electricity bill, so an increase to these regulated fees has a significant flow-through impact on the final unit rate paid by the customer.
Suppliers have defended the price increases, stating that these are the first price increases introduced in the last 3 years.
It was stated that network charge increases were absorbed in 2024, but that continued rising costs means that this increase must now unfortunately be passed on to the customer this year,
Will There Be More Winter Energy Credits Announced in Budget 2026?
With Budget 2026 set to be announced this week, it is unlikely that there will be winter energy credits given to households, as has happened over the last three years. This will add further pressure on households struggling with their energy bills.
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.
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.
For an average residential electricity customer (using a typical 4,200 kWh per annum), the price increases announced by suppliers like Bord Gáis Energy, Energia, and SSE Airtricity are estimated to add another €150 to €220 to their annual bill, depending on the provider and tariff. This projection accounts for both the rising unit rates and standing charges.
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 Tariff | If you're a customer of either supplier, 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. |
| Utilise SEAI Grants | Avail of government-backed schemes (e.g., from the Sustainable Energy Authority of Ireland) for home insulation, window upgrades, or heat pump installation to improve your home's Building Energy Rating (BER). | Massive long-term reduction in energy demand (gas and electricity) and improved home comfort, potentially saving hundreds of Euro annually. |
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