Prepay Power has announced yet another price increase for its customers.
It's the fourth electricity price increase announced by the company in 2022.
From December 1st, its tariffs will increase by 9.9%, which the company says will result in an increased cost of electricity for its customers of over €15 every month.
Prepay Power also says it is not increasing the cost of its standing charge.
It would be a hard-hitting increase for those who use the service as many are from lower-income households who would find pre-paying for electricity easier than getting a bill every few months.
A spokesperson for the company has said, "even though there is some volatility on spot prices at present, the fact remains that longer-term wholesale electricity and gas prices are four times their historic norms.
"That has left us with no option but to increase prices for our electricity customers."
