diff --git a/homeassistant/components/essent/manifest.json b/homeassistant/components/essent/manifest.json
index 9d7896057a69..0908acd0f321 100644
--- a/homeassistant/components/essent/manifest.json
+++ b/homeassistant/components/essent/manifest.json
@@ -7,6 +7,6 @@
   "integration_type": "service",
   "iot_class": "cloud_polling",
   "quality_scale": "silver",
-  "requirements": ["essent-dynamic-pricing==0.2.7"],
+  "requirements": ["essent-dynamic-pricing==0.3.1"],
   "single_config_entry": true
 }
diff --git a/requirements_all.txt b/requirements_all.txt
index 8de8a09608d6..ed3790e91005 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -926,7 +926,7 @@ eq3btsmart==2.3.0
 esphome-dashboard-api==1.3.0
 
 # homeassistant.components.essent
-essent-dynamic-pricing==0.2.7
+essent-dynamic-pricing==0.3.1
 
 # homeassistant.components.netgear_lte
 eternalegypt==0.0.18
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index bad34efb73e6..e7719141748b 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -817,7 +817,7 @@ eq3btsmart==2.3.0
 esphome-dashboard-api==1.3.0
 
 # homeassistant.components.essent
-essent-dynamic-pricing==0.2.7
+essent-dynamic-pricing==0.3.1
 
 # homeassistant.components.netgear_lte
 eternalegypt==0.0.18