More Gas and Electricity Price Increases on the Way

Flogas  increased  gas charges from November 1st by 9.8%, which meant an annual increase of €80 for average usage households.   Flogas already raised rates on 1 August this year , with customers seeing the average gas bill rise by almost €93.

Panda Power also increased electricity and gas prices by 11.1% with effect from Nov 5th 2018 . The increase will add €99.32 onto the average annual electricity bill and €74.88 onto the average annual gas bill. Panda Power last raised prices this  July, (gas prices by 5% and electricity prices by 5.9%)

The pre-payment energy company , Pinergy ,  increased  electricity prices by  7.89% from 7th November. This increase will add €66.04 onto the average annual electricity bill.  In August, Pinergy increased its electricity prices by 9.38%, which saw a €71.76 rise.

SSE Airtricity  will increase prices on December 3rd – adding €61.36 to the average annual electricity bill and €52.52 to the average annual gas bill. This is a 6.3% increase for electricity and 6.9% increase for gas which amounts to €114 being added on to the average annual dual fuel energy bill.

Energia  will increase prices from January 1st 2019 , adding €61.88 to the average annual electricity bill and €55.64 to the average annual gas bill . (An average of 5.9%)

Electric Ireland have promised not to increase energy prices until at least March 2019.

We have yet to hear anything from Bord Gais Energy and BE Energy.

See  our updated Comparison of Electricty and Gas Prices Here

Fixed Rate Energy

There is only one supplier that offers fixed rates on  electricity in Ireland – and that is Just Energy. Their current offer has fixed rates for 12 months. It is currently not the cheapest – but if prices keep rising twice a year – would you be  better off in the long run by switching to them ?
For average usage – the Just Energy fixed rate deal works out at €950 a year.

The current cheapest deal from Electric Ireland  works out at €811 over the next 12 months  including their €150 cashback offer. But even if they apply increases of  7% to unit rates in March 2019   – this would only see Electric Ireland’s  prices rise by about €56 over 12 months. (Making the total annual bill  €867 , inc cashback))

This is still  a lot lower than the Just Energy fixed rate deal – and it leaves room for another increase of at least 10% before it starts to get near the Just Energy price.

So – in our opinion , the fixed rate deal is probably not going to save you anything unless  prices rise by more than 20% between now and early 2020.


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