Tuesday 3rd July 2018
PrePayPower energy prices to increase in line with rising wholesale energy costs
PrePayPower has today confirmed that in line with other players in the market, the company will increase its residential energy prices in response to rising wholesale energy costs. Residential electricity customers will see a rise of 6.6 per cent and residential gas customers will see a rise of 7.5 per cent from 3rd August next. These increases are in direct response to sustained increases in wholesale energy prices.
Cathal Fay CEO of PrePayPower commented: “We regret having to make this decision and are committed to keeping prices as low as possible. However wholesale costs required to supply electricity and gas have risen considerably and are continuing to rise. This has made the increase unavoidable
We work hard to provide the best value possible to our customers. Over recent years, we have passed on savings as a result of wholesale energy cost reductions and we will do so again when circumstances allow. “
Media enquiries to: Gordon MRM. Contact Ray Gordon – email@example.com / 087 2417373
Total electricity charges will rise by 6.6 per cent and total gas charges will rise by 7.5 per cent from 3rd August 2018. This equates to 20.6 cent per day (incl. VAT) for electricity and is based on the typical residential electricity customer with an electricity usage of 4,200 kWh per annum. For gas customers, it equates to 16.7 cent per day (incl. VAT) and is based on the typical residential gas customer with a gas usage of 11,000 kWh per annum. Typical usage is as defined by the Commission for Regulation of Utilities (CRU).
Tuesday 31st October 2017
Price Change Announcement
In recent weeks, other major electricity suppliers in Ireland have announced price increases for their customers. PrePayPower has resisted passing on similar increases for as long as is practicable but unfortunately we now confirm that we will have to pass on an increase with effect from 1st December 2017.
The increase will be approximately 0.09 cent a day or €2.83 per month. This is the first increase which PrePayPower has had to pass on to customers since 2014.
In the case of PrePayPower, the increase is driven by increasing wholesale electricity costs and increased regulated charges for the distribution of power. This increase comes after 5 decreases that saw unit rates being reduced by almost 12%.
Cathal Fay, CEO of PrePayPower said; "We regret having to increase prices after being able to pass on reductions in price for so long. We are committed to keeping our standard unit rate as low as possible for our customers".
Impact of change for 24Hr Urban customers
Total costs will increase by €2.83 per month based on a 24H Urban customer with consumption of 4,200 units. The unit rate will increase to 17.16 cent per KWh (an increase of 0.76%) which remains the lowest standard PAYG unit rate in the market.
Frequently Asked Questions:
- I have Gas and Electricity with PrePayPower - will both be impacted by the price increase?
In short, no! The price you pay for Gas from PrePayPower will remain exactly the same. This change will only apply to electricity.
- Why is my electricity price increasing?
Over the past three years, we've been able to cut our electricity prices. However, due to recent increases in wholesale electricity prices and increased distribution charges, we've taken the difficult decision to increase our electricity prices. The cost of supplying Gas has also increased but we've been able to keep our Gas prices the same.
All Electricity Suppliers buy electricity (which is supplied to you) from the wholesale electricity market. Wholesale electricity prices have increased significantly both globally and in Ireland which has resulted in increasing prices being passed on to suppliers and in turn, their customers. The price of distributing energy along the networks has also risen causing price increases for suppliers and in turn their customers.
- How is the increase split between daily charges and charge for units of electricity used?
For 24h customers the split is as follows:
- When will the price change take effect?
The price change comes into effect on the 1st December 2017.
- I’m concerned about the price increase, what should I do?
The best thing to do is to stay in control and keep an eye on your costs with PrePayPower. Analysis of 15,422 PrePayPower customers found that 26% of them reduced their consumption by 20% or more a year after they switched to PrePayPower**.
There are so many ways to save and reduce your energy usage with PrePayPower. For lots of helpful tips on how to use your meter and save on energy usage, see our Handy Hints and Tips
**Analysis of 15,422 PrePayPower customers found an average annual consumption reduction of 9% after switching to PrePayPower. Over 26% of the sample reduced by over 20% annually. For more details see www.prepaypower.ie/our-services/benefits/ways-to-save
- I’d like to find out more information
Customers who would like more information can contact us on 1800 911 917
For media enquiries, please contact Gordon MRM: 00 353 (87) 236 8366
Friday 1st September 2017
PSO Levy Announcement
From October 1st 2017, the Government imposed Public Service Obligation levy (the PSO levy) which all Electricity Customers must pay will increase. From that date, the Government will set the PSO levy at €8.73 per month; an increase of €2.04 per month on the current figure.
PrePayPower unit rate, standing charge and PAYG service charge are not impacted by this change and will remain the same for all our customers.
How do I enter my once off longer Top Up Code?
To enter your once off longer Top Up code simply follow the below steps.
1. Press the STAR (*) key.
2. Then enter your 40 digit power code
3. Press the HASH (#) key.