Electric Ireland have announced it will be increasing electricity prices by a massive 30% for customers from 1 May 2022.
Although Electric Ireland customers may have been braced for a price increase it is the scale of the increase and impact on bills that may take them by surprise. In this blog we take a look at the latest price announcement from Electric Ireland and what it will mean for customers’ pockets
What does the price increase mean for customers?
Electric Ireland has over 103k electricity customers in Northern Ireland, around 12% of the domestic market, who will now see their bills increase.
The price change will come into effect from 1st May 2022 and will mean an annual increase of almost £219 for a typical customer*. Although this is the first increase of 2022 it comes on the back of three price increases last year.
- In November 2021 Electric Ireland increased prices by 13.5%, which added £87 to an annual bill
- In August 2021 Electric Ireland increased prices by 10.2%, which added £60 to an annual bill
- In February 2021 Electric Ireland increased prices by 3.7%, which added £21 to an annual bill
This latest announcement means that since February 2021, Electric Ireland have increased prices by over 57%, adding around £387 to a typical customers bill.
To see what difference this can make to your bill compare electricity prices with www.powertoswitch.co.uk. We have already factored in what this price increase will mean for your electricity bill.
What Electric Ireland have said…
Commenting on the price increase, Derek Hynes, Head of Residential Markets, Electric Ireland commented:
“With world events continuing to impact on global wholesale energy prices, we have unfortunately been forced today to announce a price increase for residential customers.”
“We would like to assure our customers we will continue to work and engage with you during this uncertain time”
What tariffs do Electric Ireland provide…
Electric Ireland provide Pay as You Go (Keypad) and Credit (Bill Pay) tariffs for customers. You can choose between a discount rate tariff, or tariffs that come with a range of cashbacks across both keypad and bill pay.
Get in touch with your energy supplier
As everyone realises, we continue in uncertain times. It’s important to get in touch with your energy supplier to discuss any payment issues or concerns and help manage your account. Even providing an up-to-date meter read can make sure your payments are accurate and up to date.
Finding a better deal…
Yes, all suppliers have been increasing prices – but not to the same degree. There is a difference of almost £490 between the most expensive and most competitive electricity deal in Northern Ireland.
If you are looking to offset the price increase the quickest and easiest way to do so is to compare suppliers and switch to a cheaper deal using on www.powertoswitch.co.uk
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!!!
* Based on 24Hr standard tariff and 3,200 kWh annual usage