CUSTOMERS of PrePayPower are to be hit with double-digit worth rises for electrical energy and fuel from the beginning of October.
lectricity costs are set to leap by 19pc, with fuel going up by 29pc.
This newest rise will push up the annual value of electrical energy for its clients by €340 over a yr.
Fuel clients of PrePayPower face paying an additional €428 a yr.
When the brand new rise is applied it’ll push the typical annual value of electrical energy for purchasers of the provider up by €700.
It will imply the annual value of electrical energy for a PrePayPower buyer will likely be approaching €2,500.
Fuel annual prices will rise by €900 over a full yr.
That is PrePayPwer’s third worth enhance up to now this yr.
It final raised costs in July when the value of its electrical energy went up by 12.5% and its fuel by 21%. Earlier than that it raised its costs by an analogous quantity in April.
And in 2021 it raised its costs twice.
Daragh Cassidy of worth comparability web site Bonkers.ie mentioned: “We all know that these on decrease incomes have a tendency to make use of prepay power greater than different households so this will likely be a very powerful blow for these households.
“Sadly, it’s nearly a given costs will enhance much more this winter until pressing motion is taken at an EU degree to stem the rise in costs.”
It comes after SSE Airtricity final week mentioned it pushing up its electrical energy expenses by greater than 35pc, and its fuel prices by 39pc from the beginning of October.
Because the begin of final yr there have been 50-plus separate worth rise bulletins from the varied electrical energy and fuel suppliers on this nation.
PrepayPower sells electrical energy and fuel to retail clients on a pay-as-you-go foundation.
The corporate has 170,000 electrical energy clients and 60,000 fuel clients.
PrepayPower clients high up their meters and management their power utilization by the use of a smartphone app or by buying credit score in newsagents or different outlets.
The provider mentioned it’s anticipated that the adjustments will enhance the price on common by €6.53 for electrical energy and €8.24 for fuel per week.
A PrePayPower spokesperson mentioned: “Regrettably, surging worldwide wholesale prices make buyer worth will increase inevitable.
“Have been it not for our in depth hedging operations, these will increase would have needed to be considerably larger. We proceed to work laborious to guard clients to the best extent doable from the impression of those worldwide developments.”
Vitality costs have greater than doubled for big numbers of households, with extra rises anticipated.
