PrepayPower freezing energy prices this winter

PrepayPower have announced they will be freezing their electricity and gas prices for their 200,000 customers ahead of the upcoming winter.

They are Ireland’s largest pay-as-you-go electricity and gas supplier, providing electricity to around 180,000 customers and gas to 60,000 customers. The supplier confirmed that there will be no price increases until March next year at the earliest.

Most of the other energy providers increased their rates for customers earlier this year, and PrepayPower were no different, increasing prices for electricity by nearly 9% and gas by 10.6%.

Stats from the Central Statistics Office last month paint a dark picture of wholesale electricity prices, showing rises of over 70% in the year to August. Now, wholesale electricity costs are at the highest level in around four years.

Managing Director of PrepayPower Eric Mullane said: “There’s a lot of concern that energy bills will rise over the coming months, so we’ve decided to freeze our prices for the winter.

“People often assume pay-as-you-go costs more, but our electricity prices are lower than most bill-pay suppliers’ standard tariffs.

Along with the price freeze, the Commission for Regulation of Utilities have announced further protection measures for all energy customers this winter.

These include changes to repayment conditions for customers in arrears. The plans must now reflect what people can afford and allow them at least 18 months to repay the debt.

Suppliers are also required to place customers who are in financial hardship on their lowest-cost tariff, along with dedicated support.