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Flogas announces sixth price rise for households in past year

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Electricity and gas prices are rising. Stock image

Electricity and gas prices are rising. Stock image

Electricity and gas prices are rising. Stock image

FLOGAS Energy is to hit its customers with another price rise, taking effect from the middle of next month.

The energy provider said it will increase average residential electricity bills by 8.1pc from August 19.

This will add around €195 to the annual cost of electricity for a typical household.

Gas bills by are going up by 19.8pc from the same date.

The typical household gas bill will be €363 more expensive over a year.

It is the second price rise this year.

The company announced four price rises last year, with the last one in November seeing electricity and gas prices going up by double-digit amounts.

This means the average Flogas electricity customer has been hit by cumulate increases of €1,500 since the start of last year.

Gas customers have been hit by a rise of €1,400 in prices since April last year.

Flogas blamed what it said was the continuing and unprecedented increases in wholesale gas prices and the associated increases in wholesale electricity costs.

Flogas said the conflict in Eastern Europe is causing significant uncertainty surrounding reliability of gas flows, adding to the existing pressures on prices in European energy markets.

Wholesale prices are forecast to increase further into the winter months and remain volatile with little sign of improvement in the medium term.

Flogas general manager Paul Kenny said: “As energy customers ourselves, we are keenly aware of the impact of increasing costs on Irish households.

“Energy cost increases are affecting all suppliers and while we are continually looking at ways to keep our costs low, we have no option but to increase our rates in the current environment.”

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Mr Kenny said the company will support affected customers through its customer service teams as much as possible, and have a range of supports including payment plans, budget pay options and pre-payment meters.

Daragh Cassidy of price comparison site Bonkers.ie warned consumers of an expensive winter.

He said: “A heatwave in the height of summer is obviously a great time to bury bad energy news. But the whole country is looking at a potentially bleak and expensive winter.”

Next month more than a million households with Electric Ireland accounts are to be hit by a fourth rise in electricity and gas prices in a year.

The ESB-owned energy supplier is pushing up electricity prices by 11pc in August, and gas prices by 29pc.

It is the second Electric Ireland price hike this year, and the fourth since last year.

The latest move will add €164 a year to the cost of electricity for its 1.1 million customers.

Electricity prices at the State-owned company will have gone up by 67pc cumulatively since year when the latest hike takes effect.


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