Bright announce a further increase to electricity prices

In a further price rise, Bright have announced they are increasing prices for new customers (from 15th October 2021), and existing customers from 7th November.

This follows on from increases the electricity supplier has announced over the last few months and will mean customers of Bright have seen bills climb by over £350.

What does the price increase mean for customers?

Bright Energy announced an increase to its variable rate tariff for new bill pay and keypad customers electricity prices from 15th October 2021. This will see a typical customer needing to find an extra £200 a year to cover these increased costs.

Bright’s new tariff rates compared to previous rates and annual cost are shown below…

 

Bill Pay (24Hr)

  Tariff Rate
(inc Vat)
Standing Charge
 (pence per day)
Annual Bill*
Old rate
(as of 19th August)
20.727 p/kWh 5.20 £682.24
New rate
(as of 15th October)
26.497 p/kWh 10.09 £884.73

 

Keypad (24Hr)

  Tariff Rate
(inc Vat)
Standing Charge
 (pence per day)
Annual Bill*
Old rate
(as of 19th August)
20.727 p/kWh 8.64 £694.79
New rate
(as of 15th October)
26.497 p/kWh 13.53 £897.28

 

What have Bright Energy said…

Commenting on the price increase, CEO of Bright Energy, Ciaran Devine stated that:

‘Unfortunately, wholesale electricity costs have continued to rise, and we now need to increase our prices.

“This is not the kind of news we want to give our customers, but our pricing reflects the market and is as fair as we can possibly make it while wholesale prices remain so high. Should wholesale prices fall we will be looking to pass on the savings to customers quickly.”

 

Who is Bright Energy?

Bright is a relatively new supplier providing electricity to customers right across Ireland. Although they may be a new energy supplier the people behind Bright have many years’ experience working across the energy market in Ireland.

Bright Energy is now wholly owned by The Maxol Group, one of Ireland’s longest-established family-owned businesses.

 

What is the Bright tariff offer?

Bright offer one variable rate tariff to all their customers. Because there is only one tariff all customers will always be on the best rate offered by the company.

Variable rate tariffs do just what their name suggests: they vary. This means the price you pay can increase and decrease in line with wholesale costs and other charges, and as wholesale costs have increased significantly over recent months Bright have said they have no option but to pass these through to customers. However, should wholesale costs fall we would expect these to also be passed through to customers.

Bright customers aren’t tied into any year-long contract, so if you sign up and feel like there’s better value to be had elsewhere, you can leave at any time and not be hit with an early exit penalty.

And those who are environmentally conscious will be pleased to know that Bright to provide only 100% green electricity too.

 

Switch and save

Yes, all suppliers have been increasing prices – but not to the same degree. There is a different of over £300 between the most expensive and most competitive electricity deal in Northern Ireland.

At ‘Power to Switch’ we compare all tariffs and deals across all electricity suppliers to save you money. Switching is quick, hassle-free and means you keep more money in your pocket. You don’t even have to tell your old supplier you are leaving!!!

For more information, advice and support on energy issues visit Power to Switch or follow us on Facebook or Twitter.

 

Compare Electricity and Gas Prices

* Based on variable rate tariff and 3,200 kWh annual usage

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