PrepayPower to increase electricity prices by almost 10%

Muireann Duffy

PrepayPower has confirmed it plans to increase electricity prices by 9.9 per cent, marking the fourth such increase this year.

The change will impact approximately 170,000 customers, but gas prices and standing charges will remain unchanged.

Bonkers.ie estimated the increase will add around €200 to customers' annual electricity bill based on average usage.

The price increase will take effect from Thursday, December 1st.

"The news will come as a blow to households as we head into winter, especially as there has been a lot of talk about falling energy prices on global markets in recent days," Bonkers.ie's head of communications Daragh Cassidy said.

"But we need to remember that prices have fallen from astronomical highs and are nowhere near the price for us to see household energy bills come down.

"At one stage during summer the price of gas was up by over 1,200 per cent compared to early 2021. It’s now up by around 500 per cent, though it’s very volatile.

"However, energy bills have gone up by around 140 per cent over the past 18 months. So you can clearly see that although prices have fallen, it’s really only protecting us from further price increases," he added.