ENERGY PROVIDER SSE Airtricity has announced it will be hiking its rates for electricity and gas next month.

The price change for standard variable household electricity, gas unit rates and electricity standing charges will come into effect on 5 October.

A typical electricity customer’s bill will increase by 8.9% as a result, totalling €3.31 per week. For gas customers, the bill increase amount will be 9.3%, or €2.67 per week.

“This will result in an additional €0.47 per day on the average electricity bill and €0.38 per day on the average gas bill,” the company said. 

“Dual fuel household bills will increase by 9.1% on average, equivalent to around €0.85 per day”, or €5.99 a week.

Electricity standing charges will increase by 6.1%. There will be no change to gas standing charges.

 The price hike has been attributed to ongoing volatility in global energy markets as the result of conflict in the Middle East, as well as increases in network charges.

SSE Airtricity said wholesale gas prices have more than doubled in the last 12 months.

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“While global energy markets remain volatile, the best way to protect customers is to accelerate the deployment of clean, renewable electricity in the Irish energy system and reduce reliance on imported fuels,” it said in a statement announcing the increases.

Its managing director Stephen Gallagher said it is understood the announcement will be “unwelcome” for customers and the decision wasn’t taken lightly.

“Given the sustained and unprecedented nature of current market volatilities, as well as the increased network charges, we unfortunately can no longer absorb these costs.”

Any customer concerned about their energy costs or experiencing financial difficulty is advised to contact SSE Airtricity directly, either by dialling 0818 81 22 20 or visiting sseairtricity.com.