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Energia said "ongoing global volatility of wholesale energy markets and increased network charges" means it is now "necessary" for them to increase prices. Alamy Stock Photo
Price Hikes
Energia becomes latest provider to increase gas and electricity prices
The increases will come into effect from 12 October.
ENERGIA HAS BECOME the latest energy provider to announce price increases.
From 12 October, electricity customers will see their average annual bill increase by 4.73%. This comes to an extra €1.67 a week – or €87 per year.
The electricity standing charge will increase by 5% for these customers.
Gas customers will see a 9.38% increase to their average annual bill, which equates to €2.74 per week or €142 per year. There will be no change to gas standing charges.
Dual fuel customers will see their annual bill rise by 6.73%, meaning they will pay an extra €4.41 per week or €230 per year.
The electricity standing charge will increase by 5% for these customers and there will be no change to gas standing charges.
The announcement comes two days after Bord Gáis announced big increases in its residential gas and electricity prices. SSE Airtricity also announced price hikes last week.
Energia’s managing director of customer solutions Gary Ryan said the company is “always reluctant to increase prices”.
“However, the ongoing global volatility of wholesale energy markets and increased network charges means that it is now necessary for us to make a price change across electricity, and our first increase to gas since 2022,” he said.
“We fully understand that any changes to pricing affects households. We would therefore encourage customers who are experiencing difficulties to engage with us for support.”
Ryan said Energia collaborates with organisations such as St Vincent de Paul, MABS, Alone, adding that its customer service team “are available to speak to any customers experiencing difficulty”.
Energy Minister Darragh O’Brien has encouraged the public to retrofit their home or switch providers if they want to save money on gas and electricity.
Appearing on The Last Word with Matt Cooper on Today FM on Thursday, O’Brien was asked whether there’d be measures in the budget to offset the rising costs.
“I want to be straight with people too, that we’re not going to be able to soften every increase in energy prices,” he said.
He said “permanent changes” can be made to reduce energy use, reduce consumption, and reduce bills.
He encouraged the public to take advantage of state reimbursement schemes, which he says can save people up to €1,600 per year.
The minister, who chairs the regulator’s National Affordability Taskforce, also advised people to look at switching providers to get a better deal.
“Ireland’s switching rate compared to Europe is not bad, but many, many people don’t switch,” he said.
He added: “There are savings out there even in a high-price environment that all of Europe is living in right now.”
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