(Dublin – 3rd September 2021) Panda Power have announced today that residential electricity and gas prices will rise from October 4th due to the sustained rise of global wholesale energy costs coupled with the reduction in generation capacity in Ireland.
This change will see household electricity & gas bills increase by 11.3%. This is equivalent to a €172 per year increase to an electricity Estimated Annual Bill (EAB) and a €130 per year increase to a gas EAB. These figures are based on a residential customer using typical consumption per annum on our standard tariff. These increases will be significantly lower for customers on discounted plans.
Panda Power Managing Director Brendan Traynor commented that the increase “is due to factors beyond our control in providing energy to our customers. The high percentage of generator long-term outages has coincided with a 250% wholesale cost increase over the last 12 months. Unfortunately, the decision to increase prices is unavoidable in the current environment. We remain committed to offering our customers long-term value and discounted rates each year that they are with us.”