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Airtricity to increase prices by up to 21 per cent this autumn

Electricity prices will be increased by 12.3 per cent from next month, while gas prices go up by 21.2 per cent in October.
Aug 16th 2011, 6:39 PM 527 16

ENERGY PROVIDER AIRTRICITY has announce it is to increase its gas and electricity prices in the coming months, in a move that will hit thousands of domestic customers.

In a statement issued this afternoon Airtricity said it was to increase its standard electricity unit price, and the accompanying standing charge, by 12.3 per cent from September 1.

From October 1, meanwhile, the standard gas unit rate will be increased by 21.2 per cent, though the standing charge for gas customers will be unchanged.

Airtricity blames the increases on “the significant increase in wholesale energy costs”, saying it could no longer absorb the costs itself.

It said wholesale gas prices had increased by 30 per cent in the last year, led largely by the political upheaval in the Middle East and by events such as the earthquake and tsunami in Japan.

Electricity customers who signed up for fixed-price electricity contracts before February 1 this year will not have their electricity unit charges increased, though their standing charges will increase in line with others.

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Gavan Reilly

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