Monday 3rd December 2018

Good news for 140,000 domestic energy users as PrePayPower commits to a Winter price freeze 

Following a spate of price hikes by competitors over recent weeks, PrePayPower has announced that it will freeze prices for its 140,000 pay-as-you-go energy customers until at least the 1st March next year.

PrePayPower is one of the fastest growing companies in the domestic energy market in Ireland.  The company was set up in 2010 and has now grown to over 140,000 domestic electricity customers which equals 7% of the domestic electricity market in Ireland.  42,000 of the company’s customers also use the service for their gas needs and PrePayPower has confirmed the price freeze will apply to both electricity and gas.  The company employs over 270 people.

PrePayPower installs meters in customers’ homes which allow them to pay for their electricity needs as-they-go via smartphone app, online or in-store.  The meters also allow customers to monitor energy usage in the home via a smartphone app or online.  

More recently PrePayPower has begun operations in the UK where it has already secured 10,000 duel fuel customers.  

Speaking today, Cathal Fay, co-founder and Chief Executive of PrePayPower said that the price freeze was timed to coincide with the lead into Christmas and New Year given that this was an expensive time of year for everyone.  

“We’re delighted to be giving our customers a little bit of good news at this expensive time of year.  This announcement provides customers with certainty of pricing during the winter period when customer energy consumption is at its highest. Our service will help them monitor and control that consumption. .”

Issued on behalf of PrePayPower by Gordon MRM
Ray Gordon
Ph: 087 2417373
ray@gordonmrm.ie


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Wednesday 28th November 2018

Changes to Emergency Gas Credit

We would like to inform our Gas customers that we will be increasing the Emergency Credit to €10 from 1st December 2018.

If for any reason you are unable to get to the shop to top up you can now avail of €10 Emergency Credit which can be borrowed until you buy some more credit.

To use the Emergency Credit option, insert the Gas card into the meter and accept the credit by pressing the red Button A.

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Friday 31st August 2018

PSO Levy Announcement 

From October 1st 2018, the Government Public Service Obligation levy (the PSO levy) which all Electricity Customers must pay will decrease. From that date, the PSO levy is €47.34 per year, decreasing from €104.74 per year; a saving of €57.40 per year.

PrePayPower unit rate, standing charge and PAYG service charge are not impacted by this change and will remain the same for all our customers.


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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 – ray@gordonmrm.ie / 087 2417373

 

 Editor’s Notes:

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).



 

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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

 

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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.