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Irish households are being warned to prepare for a series of energy price increases starting April 1.
Electricity prices in Ireland are already the fourth most expensive in the EU, while gas prices are the seventh highest.
Energy price increases will be staggered throughout the month, depending on which provider households use.
Around 270,000 SSE Airtricity customers will see electricity prices rise 6.2%, while 85,000 gas consumers will see a 4.5% increase.
Meanwhile, Pinergy customers will see electricity costs rise 4.2%.
Energia’s 160,000 electricity customers will see an 8.6% increase, while 60,000 gas customers will pay 5.7% more.
This means that the average customer will pay around € 100 and € 50 extra per year for electricity and gas, respectively.
Bord Gáis Energy plans to raise the price of electricity by 8%, adding more than € 80 to the annual bills of its 350,000 customers.
However, Ireland’s second-largest energy provider says the company’s gas price freeze will continue for now.
Panda Power, Iberdrola, Glowpower and Flogas will also increase prices at the end of this month.
Meanwhile, Electric Ireland, the country’s largest electricity provider, has announced that it has no intention of raising energy prices at this time.
The company previously raised its rates by 3.4% in October 2020 when other providers chose to freeze theirs.
Daragh Cassidy, head of communications for bonkers.ie says there is “no guarantee” that Irish households will not be affected by further increases later in the year.
He said: “Some of these increases are quite large and will hit households hard.
“To make matters worse, the carbon tax increase on gas bills will also take effect next month, meaning that households will now pay around 80 euros a year for the tax alone.
Cassidy said the reason for the price increases is the result of the energy regulator increasing charges for maintaining and operating Ireland’s gas and electricity grids.
“These charges represent about 30% of the price we pay for our energy and unfortunately the increases are now being passed on to customers as well.”
Households looking to compensate for price increases are advised to shop around and switch to a cheaper provider when they find one.
Cassidy added: “Right now, someone who pays standard rates and switches providers could save an average of more than 400 euros a year.
“It is very quick and easy to change and everything can be done online in the space of a few minutes.”
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