Minister Warns Electricity Prices Could Increase From May

Inside this Edition

• Electricity Prices Could Begin Rise From May

• Microinverters & Hybrid Inverters: What’s the Difference?

• The Advantages of EV Chargers for Your Business

Tens of thousands of homes are getting solar panels every year. See how much you can save with a quote from Ireland’s top installers - check their prices now.

Electricity Prices Could Increase from May Onwards

Electricity prices may begin to rise again as early as next month figures in the government have warned, as the Iran crisis continues to drag on.

Minister for Energy Darragh O’Brien said that electricity prices could rise from 4% to 9% this summer when speaking on RTÉ’s This Week programme.

These price increases will vary depending on the provider, the Minister said, but added that they will be in the single digits. The price of gas will likely increase by a greater percentage according to Minister O’Brien.

The price of wholesale electricity in Ireland is set by the price of generating electricity from gas. Electricity providers also tend to buy blocks electricity months in advance through futures and forward contracts to avoid spot pricing.

This means that major shifts in the price of gas don’t immediately affect the retail price of electricity. Rather, those prices will increase months after, when they start using the electricity bought at the higher prices.

The price of oil and gas futures have both risen dramatically since the closure of the Strait of Hormuz, which 20% - 25% of the world’s fossil fuel supplies pass through.

With energy prices set to rise in the coming months, now is the best time to lock in lower bills before the increases hit.

Microinverters & Hybrid Inverters: What’s the Difference?

An inverter is an essential part of any solar PV system, converting the electricity you solar panels make into something usable in your house.

But there is more than one type of inverter to choose from. Two specialised varieties are Hyrbid Inverters & Microinverters.

These have different strengths and weaknesses depending on your home and how you solar system is set up.

Read our guide on which of these inverters is best for you.

The Advantages of EV Chargers for Your Business

Electric vehicles are the fastest growing segment of the car market in Ireland, and that comes with a lot of opportunities for businesses.

Whether interested in electrifying their vehicle fleet, providing a utility for employees and customers, or running them commercially, EV chargers can be an incredible resource for businesses.

However, there are many factors to consider before buying. The number of chargers you need, what power they should be, and the work involved in their installation.

In this guide we explain the costs, benefits and practical considerations for commercial EV charging.

That’s it for this week. If you want to learn more about how you can save more in your home while living more sustainably, then keep an eye out for our next edition.