Airtricity has confirmed that it is increasing its household electricity prices in the Republic of Ireland by 3.5% from 1 November 2013. This will result in an average monthly increase of €3.25 for customers on Airtricity’s Direct Debit and eBilling Standard tariffs.
Unfortunately, due to a combination of factors, the company can no longer continue to absorb the rising costs it is facing in the market and must now reflect these costs in its household electricity prices from November.
These factors, around 85% of which are outside Airtricity’s control, primarily include increases in the cost of using Ireland’s energy networks to distribute electricity to customers' homes along with the increased cost of buying energy in global markets.
Airtricity continues to offer significant value to new customers switching to it for its competitively-priced electricity-only and dual fuel products. In addition, Airtricity remains the only energy supplier in the Irish energy market to offer lower-cost price discounts to all its existing customers against its Standard rates if they pay by Direct Debit and receive their bill by eBilling, regardless of contract type.
In line with its continued commitment to protecting its most in need customers affected by the current difficult economic climate, Airtricity remains the cheapest provider of Pay-As-You-Go electricity. In addition, Airtricity continues to offer its Pay-As-You-Go customers its cheapest available Standard rate so customers can better manage their energy costs including any outstanding energy debt.
Stephen Wheeler, Airtricity Managing Director, commented:
“Unfortunately the factors that contribute to the cost of energy all cost more than they did last year. As a result we cannot continue to absorb the sustained increases in energy costs that we are facing. That’s why the price increase that we are announcing today, although completely regrettable, cannot be avoided.
“As always, we will continue to do more to keep our energy prices affordable and in particular to help our customers experiencing financial difficulties to find sustainable ways to manage their energy costs. That’s why our customers most in need using Pay-As-You-Go meters get our cheapest Standard rate, and why our Pay-As-You-Go prices are the cheapest in the market.
“We will continue to do all we can to work with policy makers and the Commission for Energy Regulation to promote an increased uptake of Pay-As-You-Go meters, which have already proven highly-effective in assisting customers in need in better managing their energy costs, and to seek further sustainable improvements to current debt arrangements in the market.”
Read the full announcement here.