Sunday 22 July 2018

Third energy supplier announces price hike of 12.8pc

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Charlie Weston

Charlie Weston

A THIRD energy supplier has announced a price hike.

Flogas will raise its prices by 12.8pc from the start of August in a move that will add €93 a year to the average gas bill.

The move comes days after Electric Ireland said its electricity prices were going up by 6.2pc, and gas by 8.2pc, which will see the cost of each fuel rise by around €55 a year.

Flogas blamed a 20pc increase in the supply price of natural gas on international wholesale markets

It said the announcement will increase the typical gas bill by €1.78 per week.

Details of the price increase will be sent to customers with their first gas bill dated after August 1.

Flogas Ireland managing director John Rooney said, “Over the years, Flogas Natural Gas has made rate reductions whenever the opportunity has arisen to do so.  Unfortunately, due to the present circumstances, that of rising wholesale costs, a price increase has become unavoidable.”

Flogas has a 5pc share of the residential natural gas market in Ireland.

Three weeks ago SSE Airtricity announced an increase in electricity and gas prices from the middle of next month.

Electricity costs are going up by 6.4pc, and gas 12.3pc.

The increases will mean annual bills rising by €140 for dual-fuel customers.

SSE Airtricity said the move was in response to sustained increases in wholesale energy costs on global markets.

The price rises take effect from July 14 next.

Electricity-only customers of SSE Airtricity face paying almost €60 extra a year for their supply.

Gas-only customers will see annual bills rise by €80.

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