Pinergy drops electricity prices as wholesale energy costs improve

by Gazette Reporter
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Pinergy, the smart clean energy supply & solutions company this week announced a decrease to its standard residential electricity prices from 31st March 2023.  

The latest change will result in a 7.1% decrease to the typical household cost which is equivalent to €183 annually (incl. VAT) in an Estimated Annual Bill (EAB) based on a domestic customer using typical consumption per annum on standard tariffs. 

Pinergy CEO, Enda Gunnell, said: “We had previously committed to reducing electricity prices when circumstances and market conditions allowed.  With recent reductions in the wholesale costs of electricity, we are now pleased to be able to announce this price decrease. However, the outlook on global wholesale markets continues to show inflated & volatile pricing over the medium term. 

“The Energy Crisis has not gone away, and market reforms of the Energy sector are still urgently required. We continue to engage with regulators and policy makers to urge reform for energy users, generators & suppliers across the marketplace.” 

Pinergy is calling on its customers that need additional assistance to contact them as a first step, so they can respond and support them with a range of Energy Supports. The CRU has also announced that the 2022/23 PSO credit of €89.10 per annum (excl. VAT) will be paid to customers over 7 months from 1st March 2023.

Gunnell added: “Pinergy customers are uniquely empowered with the latest in smart technologies that allows them to see their energy consumption every day and identify potential areas of energy waste to be addressed. As part of a just energy transition, we are also maintaining our market leading Clean Export Guarantee of 25c per kWh for our customers who are generating their own electricity and wish to sell their excess back to us.” 

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