Energy company Pinergy has announced an 82% increase in overnight energy rates, taking place from August 1st. 

The change will impact around 1,800 customers who are signed up to Pinergy’s ‘Lifestyle Drive Time Plan’. 

Electric vehicles (EVs) owners are expected to be significantly affected, as many charge their vehicles at night.

Pinergy’s overnight prices will increase from 5.49 cent per kilowatt hour to 9.99 cent per kilowatt hour between 2am and 5am.

The changes brings Pinergy in line with industry competitors, such as Electric Ireland who charges 9.94 cent per kilowatt hour between 2am and 4am, while Flogas will raise prices to 9.96 cent per kilowatt hour from July 20th.

EV value

On The Claire Byrne Show, UCC lecturer Dr Oliver Brown said that despite energy price increases EVs still represent value for money compared to petrol or diesel vehicles. 

He noted that an EV owner could spend €2.10 in charging fees to travel 100km, while a petrol or diesel vehicle owner might spend €9 for the same journey . 

Dr Brown observed that as more people transition to EVs, overnight energy rate increases are expected to continue as “demand at night goes up if demand increases… then the price because of the supply will have to go up.”

However, he admitted that EV charging is not the sole reason for price increases as broader moves to ‘eco-conscious’ overnight charging impact energy usage.

Energy generation fees

Also on The Claire Byrne Show, environmental scientist Dr Tara Shine called for greater incentives for selling energy back to the national grid. 

Pinergy will reduce how much it pays customers who generate excess energy from solar panels, falling from 25 cent per kilowatt hour to 18.5 cent per kilowatt hour.

Dr Shine, while accepting that consumers may not make much money from selling energy “can’t see the logic” in Pinergy reducing prices while electricity increases in value.

Main image: An energy bill. Picture by: Andrew Paterson / Alamy Stock Photo