Thousands of householders who get their electricity from Bord Gais face paying more.
Bord Gais Energy’s residential electricity prices to go up by 2.2pc from March 1, in a move that will add average of €26 on to an annual.
The announcement has been made this afternoon, just 24 hours after new player Energia entered the retail electricity and gas market.
Bord Gais blamed international wholesale energy prices and the weak euro currency.
The semi-state company said it had a price freeze in place up to now.
Managing director of Bord Gais Energy Dave Kirwan said: “Bord Gais Energy regrets that any price increase is necessary but the factors driving this increase are outside our control.
“We continue to work hard to keep bills as low as possible, offering new and existing customers value for money and helping them to manage their energy costs, especially throughout the winter period.”
Charlie Weston, Personal Finance Editor