Electricity bills should fall marginally after CRU cuts PSO levy

The PSO levy is paid by all electricity customers in Ireland and is used to support the renewable energy sector. Following a review of the PSO cost submissions, the CRU’s final calculation is that a PSO levy of €263.70 million will be required for the 2021/22 PSO year. This represents a decrease of €129.43 million…

Pinergy becomes latest energy provider to increase rates

More people are facing increases to their electricity bills after provider Pinergy became the latest to announce an increase to its standard residential energy prices. The company said the move follows sustained issues in the wholesale energy market and national grid, which are causing “unprecedented pricing pressures”. The change, which will take effect from August 23rd,…

Electric Ireland to increase prices from August

The company said the increase is due to more expensive wholesale energy costs. Electric Ireland last increased its prices in autumn when it raised electricity prices by 3.4%. The increase announced today will add almost €100 a year to the average annual electricity bill and €60 to the average annual gas bill. In April, almost…

UK’s energy price cap predicted to rise by at least £66/year

Robert Buckley, head of relationship development at Cornwall Insight, said: “Cornwall Insight modelling suggests it now looks likely that we will see a substantial rise in the summer energy price cap period, completely reversing the fall that was seen in October. This increase was driven mainly by a rebound in the wholesale cost of energy over the latter…