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Double whammy: First gas now electricity price hike

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ELECTRICITY supplied by ESB/Electric Ireland is to go up by 5.9pc from the start of next month.

The move will see the average household’s bill rise by €64 a year to €1,1180.

And Electric Ireland said that gas supplied by it to householders will rise in price by 8.5pc.

This is expected to add €70 to the average annual bill and push it close to €1,000.

The hike come days after Bord Gais was granted permission to charge an extra 8.5pc for domestic gas from the start of next month, which will push the average home’s annual gas costs up by €70 to close to €1,000 a year.

Airtricity said it was reviewing its gas prices.

Electricity prices had been expected to rise after the energy regulator increased the charges for use of the electricity network.

General manager of Electric Ireland (the new name for ESB) Liam Molloy blamed higher electricity distribution and transmission costs for the electricity rise.

He claimed the company had avoided passing on some of the higher costs from a stronger sterling currency and higher international oil prices.

Earlier this week it emerged that it is now €300 more expensive to fill a tank of home-heating oil than it was two years ago. It now costs close to €1,000 for 1,000 litre of heating oil.