SSE Airtricity announces electricity price increase in the Republic of Ireland
SSE Airtricity is announcing a 5.6% increase in its household electricity prices, effective from 1 November 2017. This change is a result of recently announced increases in regulated networks charges combined with an extended period of rising wholesale energy costs.
Today’s price change is SSE Airtricity’s first price increase in four years and means a typical household customer will pay around 90 cent more per week for their electricity.1
The increase will not be applied to SSE Airtricity’s most-in-need customers using Pay-As-You-Go meters to manage outstanding debt repayments.
David Manning, Director of Home Energy at SSE Airtricity, said:
“Today’s decision is not taken lightly and is driven by rising costs outside of our control. These include recently announced increases to regulated charges for using the electricity networks, which affect all suppliers, as well as prolonged increases in the cost of wholesale energy on global markets.
“From 2013, energy costs fell enabling us to reduce electricity prices three times and cut our average household bill by €83. Over the past year however external costs across the energy sector have been steadily rising. We’ve sought to insulate our customers from these rises for as long as possible, however regrettably at this time we have no option but to increase our prices. Despite this, the average SSE Airtricity household electricity bill is still €34 cheaper than it was four years ago2.
“As ever, we promise to always protect our most-in-need customers, and so this price increase will not be applied to our customers who use Pay-As-You-Go electricity meters to manage outstanding debt repayments.”
1Equivalent cost based on a household electricity customer on 24hr SmartSaver Standard credit meter tariff (Direct Debit with eBilling) with typical annual consumption of 4,200 kWh. Figures are inclusive of VAT. Actual cost varies according to meter type, individual tariff and consumption.
2 Combined savings quoted since 2013 based on SSE Airtricity 5% (€45.61) electricity price reduction from 1 August 2016; 2% (€18.96) electricity price reduction 11 January 2016; and 2% (€18.57) electricity price reduction from 1 April 2015. Savings quoted based on 24hr SmartSaver Standard credit meter tariff (Direct Debit with eBilling).
The price change applies to 295,346 household electricity customers, based on Commission for Energy Regulation ‘Electricity and Gas Retail Markets Report Q1 2017’, published 9 August 2017.