Electricity Price increase from February 2018

Electric Ireland is announcing that it will increase residential electricity prices by 4% but will defer applying this increase until February 1st 2018, thus protecting customers from the impact of rising energy costs this winter.

Jim Dollard, Executive Director Electric Ireland commented: “Electric Ireland is acutely conscious of the financial pressures facing our customers and we are committed to keeping prices as low as possible for as long as possible. Over the past four years we have passed on all savings as a result of wholesale energy cost reductions and became the first supplier in the Irish market to offer enduring long term savings of up to 8.5% to our residential electricity and gas customers.   Against the backdrop of increasing wholesale energy costs, an electricity price increase is unfortunately now unavoidable.  However, we will absorb those increases over the winter months when electricity usage and bills are at their highest and then apply a 4% price increase from 1st February 2018”.

“Given that a number of energy suppliers have recently announced higher price increases which will come into effect over the coming weeks, we believe today’s announcement  provides our customers with peace of mind about winter bills and underpins our commitment to offering our customers the best long-term value in the market. We can also give added assurance that we have no plans to increase our residential gas prices at this time. ” Jim added. 

Additional Notes

  • Electric Ireland will increase electricity prices by 4% from February 2018.  This equates to €2.91 per month (inc 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).
  • Electric Ireland will continue to give a 5% discount to customers who are in most financial hardship through Industry Prepayment meters and via the Household Budget Scheme.
  • Comparison of Irish residential electricity standard prices reflecting recent supplier increases and Electric Ireland’s February 2018 price increase*:

Supplier:

Electric Ireland

Bord Gáis Energy

SSE Airtricity

 

Energia

Total (inclusive of VAT)

€1,006

€1,024

€1,052

€1,056

 


*numbers represent estimated average bill for a typical consumption customer.