We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

not gas

Two Irish energy companies have just raised their prices

Panda Power and Pinergy have become the latest Irish energy companies to up their prices.

shutterstock_568411606 Shutterstock / Ub-Foto Shutterstock / Ub-Foto / Ub-Foto

TWO IRISH ENERGY providers have raised their prices, becoming the latest to do so after a bad couple of weeks for Irish consumers.

Panda Power and Pinergy have said they will increase their standard unit electricity price by 5.9% and 9.38% respectively.

Panda Power is also raising its gas prices by 5%. Panda’s increases will equate to an increase of about €80 on a typical annual household dual fuel bill.

Pinergy’s price hike means an additional €72 per year for their customers’ bills.

All the increases will take effect from 1 August.

The two companies are effectively following the lead of other competitors in the Irish market – SSE Electricity, Flogas, Electric Ireland and Energia have all announced similar increases in recent weeks.

The price hikes are being blamed on the rising costs of fossil fuels on the global markets. And other companies in Ireland are also expected to follow suit.

“The price increases are coming thick and fast now, with these announcements bringing the total amount of suppliers who are raising their prices to six. There are only 10 energy suppliers in the market, and it’s likely we’ll see all of the remaining four announce similar hikes, too,” said Eoin Clarke, managing director of

The average dual fuel bill for customers on standard tariffs already stands at almost €1,800 per year, which makes up a big chunk of many households’ outgoings, and it seems this price is only going to go up.

“Anyone who hasn’t switched to a new energy supplier in the last year is on what’s known as a standard tariff, which means there are huge savings to be made by switching. The average household could save hundreds of euro by switching from standard tariffs to the cheapest deals on the market, which could go a long way towards offsetting the damage that will be done with these price hikes,” he added.

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Your Voice
Readers Comments
This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
Leave a Comment
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.

    Leave a commentcancel