Why energy bills are rising and 13 easy ways to keep costs down

16th Nov 2021

Don’t you hate it when you open your energy bill only to find the price of electricity and gas has gone up? Again. We get it, and we know that this year you’ve seen our prices rise more than once. At Panda, we pride ourselves not just in providing green energy solutions to homes like yours, but also in keeping the cost of sustainable living low. That’s why we want to tell you more about how our energy bills work, and why they’re higher than normal, at the moment. 

What goes into your energy bill?

They can be a little tricky to decipher, but when you get your energy bill the price you pay can be split into four main parts: 

  • Wholesale costs: The actual price of the energy sold to gas and electricity suppliers like Panda. 
  • Network costs: The cost of transporting, distributing and maintaining energy supplies across Ireland. 
  • Supply costs: The price you pay Panda to supply your home with green electricity and gas.  
  • Taxes and levies: There’s VAT of course, with Public Service Obligation levies and Carbon Tax all there to help make Ireland greener and cleaner. 

The reality is that a lot of these costs, particularly wholesale, are out of our control – with this year seeing them rise more than fall because: 

  1. Demand is up: We’re all using a lot of energy right now, with demand for 2021 way above average for this time of year. 
  2. Ireland is running low on renewables: Most of the country’s renewable energy comes from wind farms, but our warm, still summer has seen supplies fall short. 
  3. There’s a general shortage of gas: As climate change takes hold, global demand for heating and cooling systems meant annual supplies weren’t replenished and the cost of gas is at an all-time high. 
  4. Technical difficulties: Two of Ireland’s biggest power plants have been offline for the best part of a year, which means the country has had to turn back to coal and oil to keep supplies secure. 
  5. Fossil fuels are setting the price for Ireland’s market: All of the above puts pressure on traditional fossil fuels. That means more carbon credits, more taxes, and higher wholesale prices for everyone – even though your energy is green!

Sounds complicated, doesn’t it? Don’t worry. When you choose Panda you know we’ll do everything we can to keep costs low. If you’re still not happy with the size of your bill, here are 13 simple steps you can try to help bring your bills down this winter…

  • Using energy-efficient appliances (and turning them off when they’re not in use).
  • Draught-proofing your windows and doors. 
  • Buying a jacket for your boiler so that it heats up faster and stays warmer longer. 
  • Boiling water for the cup of tea you’re making, not the whole kettle. 
  • Only running your dishwasher and washing machine at night when they’re full. 
  • Re-arranging the furniture to make sure your radiator is free to do its job. 
  • Knitting a woolly cover for your letterbox to keep the cold air outside where it belongs. 
  • Having shorter showers and fewer baths (sorry).
  • Treating yourself to an early night – it’s a great way to keep evening energy costs down.  
  • Closing doors and drawing the curtains to lock the warm air in. 
  • Setting your winter heating to a snug 20oc.
  • Washing your clothes on a ‘cool’ wash.
  • Filling your fridge with food – it helps keep everything cool!

Of course, if you haven’t already, why not switch your gas and electricity to Panda? We’re on your side and are always looking for new ways to make your home as green, clean, and cost-friendly as can be.

We are here to help you leave a greener footprint!