Electric Ireland have announced it will be increasing electricity prices by a huge 29% for customers from the 1st October 2022.
This is the second increase from Electric Ireland this year, and follows a 30% hike on 1st May 2022.
The latest hike will cause further concern to customers many of whom will already be struggling with the rising cost of living and be deeply worried about paying higher energy bills over winter.
What does the price increase mean for customers?
Electric Ireland has over 91k electricity customers in Northern Ireland, around 11% of the domestic market, who will now see their bills increase.
The price change will come into effect from 1st October 2022 and will mean an annual increase of almost £275 for a typical customer*.
Taken together with the increase earlier in May it will mean an average bill has increased by 59% or £494 this year, having already increased by £168 in 2021.
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, Bill Coyle, Head of Residential Markets, Electric Ireland commented:
“This continues to be a very challenging time for all energy consumers, and an unprecedented time in the energy industry. It is with considerable reluctance that we are increasing electricity prices for our customers, which is necessary given the continuing increase in wholesale energy.”
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 cashback offers.
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 currently a difference of £484 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!!!
For more information, advice and support on energy issues visit www.powertoswitch.co.uk or follow us on facebook or twitter
* Based on 24Hr standard tariff and 3,200 kWh annual usage
