20 July 2021
An important update from the team at Glowpower.
You will no doubt have read the headlines this year around changes to the cost of electricity across Ireland. Increasing costs including distributor costs, the cost of gas to supply energy in Ireland and the wholesale price of power have all contributed to what has been an unprecedented year of ongoing high prices.
What is affecting the wholesale cost of electricity in Ireland?
- Low wind generation .
- Long term unplanned outages of large electricity generation plants in the Republic of Ireland.
- increased carbon emission costs.
- significant increases in the cost of gas used to power generators.
· Increased commodity costs.
These have had a direct and sustained impact on the rising cost of wholesale electricity.
We are very sensitive to the needs and circumstances of our customers and have absorbed these costs over the winter period and we have tried to ride out the storm, as prices historically have fallen at this time of year, however the entire industry is seeing unsustainably high wholesale prices and we have reached a tipping point where we are required to review our current plans. Reluctantly, our review outcome requires us to amend our tariff structures to ensure their viability.
The price changes reflect the real increase in overall associated costs. As with all our pricing decisions, this is not a decision we have taken lightly, and we continue to ensure that the price rises will have the least impact on our customers.
What is the change and when will this happen?
The change to your pricing is listed below. Prices will change on the 21 of August.
| Current Rates - Ex VAT | | New Rates - Ex VAT | | | | | | |
Product | Day Rate C/kWh | Night Rate C/kWh | 24hr Rate C/kWh | Supply Charge C/kWh | Day Rate C/kWh | Night Rate C/kWh | 24hr Rate C/kWh | Supply Charge C/kWh | EAB € INC VAT |
204 Festive Saver - Urban 24 | | | 0.1420 | 0.4000 | | | 0.1829 | 0.4720 | €1,156.22 |
What happens next?
The price changes will be automatic and will apply to your bill. Price changes will be pro-rata across the affected days and will appear as separate line items on your bill.
The unfortunate reality is that electricity costs have changed however the team at Glowpower will continue to offer our customers value for money even with these price changes.
Glowpower’s commitment to you.
Glowpower will continue to extend for a further 12 months any discounts or benefits of your existing plan, subject to our terms and conditions and our Codes of Practice. As conditions change, we will endeavour to look for opportunities to provide benefits to our customers.
This is part of our commitment to helping you save on your overall electricity costs.
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I see that they are also increasing their supply charge.