LAST UPDATE | 23 Sep 2022
FLOGAS ENERGY HAS announced that both gas and electricity prices will rise from late next month.
The company announced this morning that residential electricity prices will rise by 17% while gas bills will increase by 23%, with price hikes taking effect from 26 October
This is the company’s third price hike so far this year and it follows other energy companies, like Electric Ireland and SSE Airtricity who have hiked their prices in the last month.
This increase is set to add approximately €340 a year to electricity bills and €395 a year to gas bills.
The total increases since the start of 2022 will mean Flogas Energy customers will face around €1,700 more for their gas and electricity each year.
In a statement, Flogas Energy said that the price increases were due to “the continuing and unprecedented increases in wholesale gas prices and the associated increases in wholesale electricity costs”.
The company said that while unit rates are increasing, standing charges for both electricity and gas will not increase.
However, the company previously increased its standing charges for electricity between €200 and 300 a year while gas standing charges rose by over €100.
Sean O’Loughlin, the General Manager of Flogas Energy said: “Energy cost increases are affecting all suppliers and while we are continually looking at ways to minimise costs for our customers, we have no option but to increase our rates in the current environment.”
“We will support affected customers through our Customer Service team as much as possible and have a range of options, including payment plans, Budget Pay and pre-payment meters. We would ask any Flogas customer who is facing financial pressure around their energy bills to contact us.”
The company has encouraged any of its customers to ensure they are on a discounted contract or if they have a Smart Meter, to switch to a Flogas Smart Tariff.
Reaction
Daragh Cassidy, the Head of Communications at Bonkers.ie said that next week’s Budget “can’t come soon enough”.
“To say these are unprecedented times for the energy sector is an understatement. Next week’s budget can’t come soon enough. However we’re deluding ourselves if we think the Government can shield us from the full forces of the energy crisis,” said Cassidy.
“These price increases are undoubtedly immense and will be difficult for customers to digest but Flogas is merely passing on the increased costs it’s facing itself.
“I’d encourage households which may be struggling financially to check out any Government supports which are available such as the winter fuel allowance, the free electricity allowance and the exceptional needs payment.
“Some suppliers have also set up hardship funds which will provide financial support to those most in need so I’d encourage people to chat to their suppliers too,” he added.
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