Energia has become the latest electricity and gas supplier to roll out a price hike. The cost of its domestic gas is increasing by almost 10 per cent while its electricity is going up by close to 5 per cent.
The price increases will see the annual bills of dual-fuel Energia customers climb by €230. The company, which has over 200,000 customers in the Republic, said the new charges will come into effect from October 12th.
The news, which was widely anticipated, means all the big energy suppliers in the country have increased their prices since the start of the summer.
Energia’s electricity customers will see their bills increase by 4.73 per cent, which the company said would add €1.67 to the weekly costs or about €87 when spread over a full year. The electricity standing charge will increase by 5 per cent as well.
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Its gas customers will be harder hit and face a 9.38 per cent increase. That equates to an additional €2.74 per week or €142.48 a year. There will be no change to gas standing charges, Energia said.
Its dual-fuel customers face a 6.73 per cent increase to the average annual bill, which equates to €4.41 per week or just under €230 a year.
“We are always reluctant to increase prices, with a firm focus on offering the best possible value to our customers,” said Gary Ryan of Energia.
“However, the ongoing global volatility of wholesale energy markets and increased network charges means that it is now necessary for us to make a price change across electricity, and our first increase to gas since 2022. We fully understand that any changes to pricing affects households. We would therefore encourage customers who are experiencing difficulties to engage with us for support.”
Bord Gáis Energy, the State’s largest supplier of gas, announced on Wednesday that it was increasing the unit rate for gas by 10.6 per cent and its daily standing charge by 7 per cent from October 9th. This will see the typical gas bill go up by 9.3 per cent or €140 a year based on average usage, according to the supplier.
Bord Gáis is also hiking the unit rate of its electricity by 9.1 per cent and its daily standing charge by 7.2 per cent. Under these increases, a typical electricity bill will go up by 8.8 per cent or around €177 a year, based on average usage.
According to Bord Gáis Energy, a typical dual-fuel household bill will increase by 9.1 per cent or €26.42 per month. That amounts to an annual increase of €317.
Electric Ireland announced price increases in May. It pointed out at the time that it held off on hiking prices last year when other companies acted.
Yuno, Prepay Power, Flogas and SSE Airtricity have also announced price increases in recent weeks with virtually all households set to be worse off by in excess of €200 a year as a result.
