Electric Ireland announces energy price increase

  • Residential Electricity price increase of 9 per cent which equates to €8.20 per month on average electricity bill
  • Residential Gas price increase of 7.8 per cent which equates to €4.98 per month on average gas bill
  • Increase in energy price due to significant increase in wholesale energy costs
  • Electric Ireland reminds customers of supports to manage energy bills

Issued: 12 noon, Thursday, July 1st, 2021

Electric Ireland announced today that it is increasing residential electricity prices by 9 per cent and residential gas prices by 7.8 per cent with effect from August 1st, 2021. This is due to increases in wholesale energy costs.

Marguerite Sayers, Executive Director, Electric Ireland commented:
“Electric Ireland is determined to keep prices as low as possible, but we are exposed to the price changes in the wholesale market – the price at which we buy electricity. In March, many suppliers increased prices, but we implemented a price freeze to ensure our customers were protected from the impact of rising costs for as long as possible. We also extended our disconnection moratorium to help customers struggling during the pandemic and are keeping it in place for another two months until the end of August. We had hoped that prices might stabilise but unfortunately, wholesale energy costs have continued to increase and are significantly higher than this time last year. As a result, we must reluctantly pass on some of these costs to our customers from August 1st. We appreciate this may be a difficult time for some customers and are committed to helping customers who are experiencing financial difficulty. We encourage any customers experiencing trouble paying bills to engage with us and we will commit to putting in place an affordable and workable payment plan with them in the coming months."

She added:
“Electric Ireland has one of the lowest standard unit rates in the market for electricity and gas. We automatically apply this for all our customers. We are the only Irish supplier to offer an enduring discount rate of up to 8.5 per cent for gas and electricity which does not disappear after a year. We also provide several flexible payment options to help customers, including an Equaliser product which enables customers to spread their energy costs across the year or take a payment holiday by agreeing a plan to pay their bills over eleven months instead of twelve.”

Other Electric Ireland benefits include:

  • Electric Ireland continues to offer a 5 per cent discount to customers experiencing financial hardship, through industry prepayment meters and the Household Budget Scheme.
  • Electric Ireland continues to work closely with organisations such as the Money Advice and Budgeting Service (MABS) and the Society of St. Vincent de Paul (SVP) to help individual customers who have difficulty in paying their energy bills.
  • Electric Ireland credited the bills of approximately 10,000 of its registered vulnerable customers with €100 credit each in December 2020.
  • Electric Ireland’s dedicated Energy Saving Scheme made €1.4 million euro available in 2020 to support community programs aimed at improving the energy efficiency of homes who may be experiencing fuel poverty, so these customers can also be part of Ireland’s transition to a low carbon future.
  • Electric Ireland reminds customers to make contact if they are experiencing financial difficulties.
  • Electric Ireland suggests other ways to reduce energy bills on the on the Brighter Together hub at: www.electricireland.ie/brightertogether

ENDS/

Notes to Editor

Electricity
Electric Ireland will increase the average residential electricity bill by 9 per cent from August 1st, 2021. This equates to €98.46 per annum or €8.20 per month (inclusive of VAT) and is based on the typical residential electricity customer with an electricity usage of 4,200 kWh per annum, as defined by the Commission for Regulation of Utilities (CRU).

Gas
Electric Ireland will increase the average residential gas bill by 7.8 per cent from August 1st, 2021. This equates to €59.76 per annum or €4.98 per month (inclusive of VAT) and is based on the typical residential gas customer with a gas usage of 11,000 kWh per annum, as defined by the Commission for Regulation of Utilities (CRU).

What number should customers call in financial difficulties?
At Electric Ireland we are aware that many of our customers may experience financial difficulties and uncertainty. We would like to assure customers, as always, we will engage with them to reach workable solutions and would ask that if they have any concerns about their bills to engage with us at an early stage.

Please call 1800 50 40 21.