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Energy companies are raising their prices from today – Here’s everything you need to know

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Energy costs are soaring

Energy costs are soaring

Energy costs are soaring

Energy customers are facing significant increases in their bills from this month, with seven providers upping their prices.

The companies have repeatedly cited the growing challenges facing the sector due to the war in Ukraine, but they have received little sympathy as households and businesses face mounting bills in the teeth of a cost-of-living crisis.

It comes just weeks after Pinergy increased the cost of its electricity by 24pc for pre-pay meter users and 19.2pc for billed customers at the start of this month.

Here is a breakdown of what is going up and when.

SSE Airtricity 

SSE Airtricity is pushing up its electricity charges by more than 35pc and its gas costs by 39pc from today. The latest hikes from SSE Airtricitywill see the cost of electricity for its 250,000 customers go up by nearly €600 over a year.

SSE Airtricity previously increased its prices in May when it hiked the unit price of its gas by 39pc and its electricity by over 30pc. It also increased its prices three times last year.

When all these price increases are taken together, SSE customers will find themselves paying over €1,000 more for their gas and €1,100 more for their electricity each year.

The price hikes come on the back of SSE Airtricity Ireland paying a €115m dividend to its UK parent company last year.

Electric Ireland

State-owned Electric Ireland is increasing its residential electricity bills by 26.7pc and residential gas bills by 37.5pc from today.

The latest electricity rise will add €446 over a year to the average household’s bill. Gas prices will jump by €516 a year due to the latest increase.

This is the fifth price rise from the supplier since the start of last year.

Gas prices are now an extra €1,100 a year since before the five prices rises were imposed.

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Electric Ireland has around 1.2 million electricity customers and 145,000 gas customers.

Its parent group, ESB, reported operating profits up 10pc to €679m for last year. Its dividend to the State rose by more than half to €126m.

PrepayPower 

Customers of PrepayPower will be hit with double-digit price rises for electricity and gas.

Electricity prices are set to jump by 19pc, with gas going up by 29pc, from today.

This latest rise will push up the annual cost of electricity for its customers by €340 over a year, while gas customers face paying an extra €428 a year.

When the new rise is implemented, it will push the average annual cost of electricity for customers of the supplierup by €700. It means the annual cost of electricity for a PrepayPower customer will be approaching €2,000. Annual gas costs will rise by €900 over a full year.

This is PrepayPower’s third price increase so far this year. Last year it raised its prices twice.

PrepayPower sells electricity and gas to retail customers on a pay-as-you-go basis.

The company has 170,000 electricity customers and 60,000 gas customers.

Community Power 

Community Power customers will see their bills increase by 38pc from today. This will mean a rise of €60.46 per month based on annual estimates. Community Power said attempts to increase generation capacity at its community-owned solar farms have been “thwarted over the last year by unforeseen delays”.

Bord Gáis Energy

Bord Gáis Energy is pushing through some of the highest rises seen in this market.

It is raising electricity prices by 34pc from tomorrow. This will add €579 a year to the average annual electricity bill. Gas is going up 39pc, adding €525 a year to the cost of that fuel for households. Standing charges will not increase.

This is the second time Bord Gáis has increased electricity and gas prices this year.

When all increases are taken into account, households are looking at paying over €1,300 more for their electricity and over €1,100 more for their gas.

Energia 

The firm is pushing up the cost of its electricity, gas and dual fuel to householders from next Friday by double-digit amounts.

Electricity prices are rising by 29pc this time in a move that will cost a typical household €511 in additional costs over a year. Gas prices are going up by 39pc, a move that will add €520 to the cost of using the fuel over a year.

Dual-fuel customers are facing a 33pc rise, adding €1,030 to the annual cost of heating and light.
There will be no increase to night rates for those customers on smart tariffs, and there is no increase in the standing charge.

This is Energia’s second price rise this year. Last year it had three increases.

The group, which is one of the big four suppliers in the market, has around 220,000 household customers.

When all five increases are taken into account, households face paying more than €1,200 more for their electricity and over €1,000 more for their gas over a year.

Flogas Energy

Flogas Energy is the latest company to announce hikes. Electricity bills are going up by 17pc and gas bills by 23pc, from Wednesday, October 26.

There is no rise in the standing charge this time. Flogas has some of the highest standing charges at up to €600 a year for electricity. The supplier has more than 25,000 customers.

It is the company’s third price rise this year, and it will add around
€340 a year to electricity bills and around €395 to gas bills, Daragh Cassidy of price comparison site Bonkers.ie said.

“When all increases since the start of last year are added up, it’s adding over €1,700 a year to people’s electricity bills and over €1,700 to their gas bills,” he said.


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