Electric Ireland announces 30% electricity hike adding £219 per year to bills
Electric Ireland has announced a 30% increase on electricity bills - a hike of approximately £4.21 per week on an average residential electricity bill - from the start of May.
The supplier, which has around 103,000 customers in the north, said the rise in price is due to continued market volatility and unprecedented increases in wholesale energy costs.
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."
Sinn Féin candidate for Foyle Ciara Ferguson said: “Over 100,000 people who get power from Electric Ireland are faced with another hike in energy prices.
“Workers and families are under huge pressure as their bills and the cost of living continues to rise."
She called on the Utility Regulator to cut the supply price control profit margin for energy companies which is set at 2 per cent in order to support workers and families struggling with rising costs.
The Consumer Council estimates that a typical credit meter and keypad (PAYG) customer will see their bill rise by around £219 per year as a result of the hike.
Raymond Gormley, Head of Energy Policy at the Consumer Council, said: “This news will adversely impact all Electric Ireland customers who are already experiencing financial pressures on their household budget especially with the cost of living crisis that we are experiencing.
“Consumers who are struggling with their energy bills should contact their supplier directly for help and information. We would encourage all consumers to think about ways they can reduce their energy costs. Switching payment option, changing billing method or switching supplier can save some money.”
The Consumer Council’s website (www.consumercouncil.org.uk/energy) has a free independent energy price comparison tool which empowers consumers to compare all electricity and gas tariffs across the north in one place.
Raymond continued: “The Consumer Council will continue to work with all involved in the energy industry including supply companies and the Utility Regulator to develop sustainable solutions to support the ever growing number of people in need as the problem of high energy prices will likely be with us for the foreseeable future.”
Consumers can also get in touch with the Consumer Council for free independent advice by calling Freephone 0800 121 6022 or by emailing [email protected]