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Bad news, consumers: Bord Gáis prices to increase from next month

The move follows similar announcements from Electric Ireland and Airtricity in recent weeks.

ENERGY PROVIDER BORD Gáis Energy has announced that it is increasing residential electricity prices by 4.8 per cent from the start of October.

The move will add around €4 per month onto the average electricity bill. Bord Gáis had already announced earlier this month that it is to increase gas prices at the start of October.

It is the third of Ireland’s energy providers to announce a significant increase recently: the move comes just three days after Airtricity announced that it is to increase gas prices by 8.5 per cent and electricity prices by 4.7 per cent from 15 October.

Electric Ireland is also raising its gas and electricity prices from the beginning of next month.

Bord Gais blamed the increase in the wholesale cost of gas, which is needed in the production of electricity, as well as the increase in charges on the electricity network which were announced recently by the Commission for Energy Regulation (CER).

“In the current climate, we know that many families are struggling to make ends meet, and we have therefore worked hard to minimise the overall level of the increase,” said Dave Kirwan, the managing director of Bord Gáis Energy.

“Bord Gáis Energy regrets having to introduce this price increase which is due to factors beyond our control, such as a weakening euro and increasing international wholesale prices and networks charges,” said Kirwan.

Explainer: Why energy prices are rising and what you can do to save money >

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