ESB increase electricity prices by 12%

If your starting to get Deja Vu your not the only one. Like a set of Dominoes, the ESB has announced that its electricity prices will rise by 12% from October 1st, just weeks after Airtricity and Bord Gais did the same.

So the idea of opening up the Electricity and Gas markets to competition simply means that we get to hear the same press statement by three companies instead of just one.

This cartel is so cosy, and Irish, it give you a warm feeling inside.....unless they have already cut off your heat and light.

FS

Airtricity announces Gas and Electricity price increases

Airtrcity has followed Bord Gais and announced prices rises from September 1st. Gas unit prices will rise by 21% and Electricity by 12%.

They blame the wholesale price of energy which has dramatically increased over the last year.

No word yet from the ESB but it seems likely that they will be following the price rises of its competitors in short order.

Keep an eye on www.bonkers.ie if you are thinking about making a switch in the coming days.

FS

Inflation static at 2.7%

The annual rate of inflation to the end of June has remained static at 2.7% according to the CSO.

Prices actually fell by 0.1% but this was offset by higher interest rates on borrowing.

The national consumer agency yesterday announced that food inflation is running at 5% as the big grocery retailers seem to be more content price matching their competitors than offering real value to their customers. This has hit people hard as grocery shopping is the second largest outgoing for Irish families outside of mortgage payments.

The results may differ next month as experts agree that the ESB and Airtricity will follow Bord Gais and announce increase energy prices in the coming weeks.

FS

Are you a loyal ESB customer?

If you like many people resisted the call to make the 'big switch' over the last couple of years and have stayed loyal to the ESB you must have been happy to hear the fanfare surrounding the headline price reductions announced by the ESB as they are now allowed to complete in the market again.

You would imagine your loyalty would be rewarded and all existing customers would move automatically to the new lower tariffs, unfortunately this is not the case, you need to opt in to the new plan. Details are available on https://www.esbelectricireland.ie/switchchange/allPricePlans.htm .

A somewhat sneaky tactic that relies on the ignorance of their existing customers.

FS

Bord Gais to request price increase in the Autumn

Bord Gais chief Executive John Mullins has announced that it will be seeking a double digit price increase from the Commission for Energy Regulation in July, to take affect in October.

Gas: Increase of 10-20%
Electricity: Increase of around 10%

He blamed a spike in energy prices on international markets and pointed out that wholesale gas prices had doubled over the last year. The company was no longer in a position to absorb such significant price increases and would have to start passing them on to consumers.

If you are with BG, make sure to watch the market carefully over the next few months, if its a truly competitive market, the other players will either do their best to attract customers by resisting increasing their prices...or simply coalesce to increase prices across the board. Either way be prepared to migrate your supply when the dust settles we can see who is offering the best value in the market.

FS

Save on your Electricity and Gas

Now that the ESB (Electricity Ireland) is allowed to compete again it means that there is a wide rang of options as to the cheapest method of getting your gas and electricity. The wide range available can be confusing, visit http://www.bonkers.ie/compare-gas-electricity-prices/ and find out whats the best option for you.

To switch you normally only need your existing suppliers account number and a meter reading. You can save further by signing up  to paperless billing and pay via Direct Debit.

FS