New research released today from Eurostat has found that Ireland has the fourth most expensive electricity prices in the EU.

The research shows that when VAT and other taxes are removed from calculations, Ireland, in fact, has the second highest electricity prices in the EU. 

In recent weeks, six out of Ireland’s nine electricity suppliers have announced price hikes. Increases from Bord Gáis Energy and SSE Airtricity took effect on November 1st, increases from Energia, Pinergy and PrePayPower will take effect on December 1st and Electric Ireland’s increases will take effect on February 1st 2018.

Only Denmark, Germany and Belgium have higher electricity prices than Ireland.

Commenting on the research, Bonkers.ie Head of Communications, Mark Whelan said, "Consumers should take today’s news as a stark reminder of the importance of regularly switching providers to ensure they are on the cheapest deal available at all times. Most suppliers are offering substantial discounts and cashback incentives to new customers who switch, and there is currently over €150 to be saved on average by doing so."

Source: www.businessworld.ie