Pinergy customers face near 8 per cent increases to their electricity bills from next month, the energy supplier confirmed on Friday.
Irish electricity and gas bills have been rising since April as the US-Iran war sparked sustained periods of volatility in world energy markets.
Pinergy said on Friday that it would increase electricity prices by 7.6 per cent for a typical home, adding €169 a year, or more than €14 a month, to the average bill from next month.
Chief executive Enda Gunnell blamed the “continued volatility in wholesale energy markets” for pushing costs to levels Pinergy could no longer absorb.
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“We understand this comes at a difficult time for many households and we would encourage any customer who is concerned about their bill to get in touch with us directly for support,” he said.
Gunnell noted that the company’s hedging policy – where a supplier buys power months ahead – had protected customers up to this point.
Pinergy noted that this is the first price increase imposed on its 28,000 household customers since October last year.
Price comparison website Bonkers.ie calculated that the two increases over the past 12 months mean Pinergy customers will pay €370 a year more than in September last year for electricity.
The supplier is increasing electricity rates but not adding to standing charges, which cover network costs.
Pinergy urged customers to use its app to identify possible savings to their bills, noting that homes can waste 15 to 20 per cent of their energy.
The best way for people to cut electricity bills is to switch to a cheaper supplier, Bonkers.ie argued.
Its head of communications, Darragh Cassidy, predicted that other suppliers would follow suit by the end of the year as the Middle East conflict continued to drive up prices.
“Year-to-date wholesale costs are now almost 20 per cent higher compared to 2025, and are among the highest in the world,” he said. “On top of this, we’ve seen fees for the management and upkeep of the electricity grid increase too.”
Irish suppliers began increasing electricity bills in late April, two months after the war broke out. The Gulf conflict has closed the Strait of Hormuz shipping lane, through which 20 per cent of oil and gas supplies travelled.
Oil prices climbed around 12 cent a barrel on Friday after the US threatened an indefinite blockade on Iran, sparking yet more fears about energy supplies.
Industry analysts noted that hopes of a return to normal shipping through Hormuz in the short term are dwindling.
