Pinergy Announces It's Going T...


Pinergy Announces It's Going To Lower Electricity Prices

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Electricity company Pinergy has announced it's lowering its prices.

It's the first price fall in the Irish energy market since 2020.

Pinergy is cutting its standard rate of electricity by almost 9% - after hiking it by nearly 18% only last month.

The price decrease means the firm's 27,000 domestic electricity customers will save an average of €183 a year.

However, it's warning that the energy market remains volatile.

"We had previously committed to reducing electricity prices when circumstances and market conditions allowed," said CEO Enda Farrell.

"With recent reductions in the wholesale costs of electricity, we are now pleased to be able to announce this price decrease.

"However, the outlook on global wholesale markets continues to show inflated & volatile pricing over the medium term.

"The Energy Crisis has not gone away, and market reforms of the Energy sector are still urgently required.

"We continue to engage with regulators and policymakers to urge reform for energy users, generators & suppliers across the marketplace."

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