Electric Ireland (EI), the supply division of the Electricity Supply Board (ESB), announced on Wednesday that it is increasing its residential energy price by some 23.4%, equating to an added cost of €24.80 per month on electricity bills, in a move set to impact many farmers.
The price increase affects EI’s residential customers. However, some farms may be classified as residential customers, depending on their meter type.
The company is also increasing its residential gas price by 24.8% which equates to an additional €18.35 per month on an average gas bill.
The new electricity and gas prices are set to be effective from 1 May 2022.
The energy supplier said its price increases are due to what it described as “sustained changes in the wholesale cost of energy”.
We delayed the increase as long as we could
EI executive director Marguerite Sayers said: “Unfortunately, the unprecedented and sustained volatility of wholesale gas prices over the last 12 months means that we now need to increase our prices.
“We delayed the increase as long as we could in the hope that wholesale prices would drop back to early 2021 levels, but regrettably this has not happened.”
Sayers claimed that EI has had the lowest cumulative price rises over the past 12 months and said the company “continues to deliver the best value” it can, maintaining “one of the lowest standard rates in the market, even after this increase”.
Difficulty paying
She encouraged any EI customer who has difficulty in paying their energy bill to engage with the company and committed to working with them to “put in place a manageable payment plan”.
The supports open to all EI customers experiencing payment difficulties, including farmers, include flexible payment plans, payment holidays, pay-as-you-go meters, smart meter tariffs and energy saving advice.
EI says it can also provide support through its partnerships with organisations such as the Money Advice and Budgeting Service (MABS) and the Society of St Vincent de Paul (SVP) and by utilising its €2m customer hardship fund established during the pandemic.
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Electric Ireland (EI), the supply division of the Electricity Supply Board (ESB), announced on Wednesday that it is increasing its residential energy price by some 23.4%, equating to an added cost of €24.80 per month on electricity bills, in a move set to impact many farmers.
The price increase affects EI’s residential customers. However, some farms may be classified as residential customers, depending on their meter type.
The company is also increasing its residential gas price by 24.8% which equates to an additional €18.35 per month on an average gas bill.
The new electricity and gas prices are set to be effective from 1 May 2022.
The energy supplier said its price increases are due to what it described as “sustained changes in the wholesale cost of energy”.
We delayed the increase as long as we could
EI executive director Marguerite Sayers said: “Unfortunately, the unprecedented and sustained volatility of wholesale gas prices over the last 12 months means that we now need to increase our prices.
“We delayed the increase as long as we could in the hope that wholesale prices would drop back to early 2021 levels, but regrettably this has not happened.”
Sayers claimed that EI has had the lowest cumulative price rises over the past 12 months and said the company “continues to deliver the best value” it can, maintaining “one of the lowest standard rates in the market, even after this increase”.
Difficulty paying
She encouraged any EI customer who has difficulty in paying their energy bill to engage with the company and committed to working with them to “put in place a manageable payment plan”.
The supports open to all EI customers experiencing payment difficulties, including farmers, include flexible payment plans, payment holidays, pay-as-you-go meters, smart meter tariffs and energy saving advice.
EI says it can also provide support through its partnerships with organisations such as the Money Advice and Budgeting Service (MABS) and the Society of St Vincent de Paul (SVP) and by utilising its €2m customer hardship fund established during the pandemic.
Read more
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