YUNO ENERGY HAS announced its first-ever price increase for Irish customers, with electricity and gas bills set to rise from 1 July.

The supplier, which entered the market less than three years ago in August 2023, said the increases are being driven by rising wholesale energy costs linked to the ongoing conflict in the Middle East.

Electricity prices will increase by 9.5%, while gas prices will rise by 11% on estimated annual household bills.

Yuno said this will add roughly €3.24 per week to the average electricity bill and €3 per week to the average gas bill for customers on standard rates.

The move follows similar increases recently announced by Electric Ireland and Prepay Power this month, both of which also blamed higher wholesale energy costs arising from instability in the Middle East.

Yuno said it had frozen prices over the winter period for 10 months “to protect customers at peak usage periods”, at a time when many other suppliers were increasing prices.

Managing Director Margaret O’Connor said the company had held prices steady since launching in August 2023.

“We’ve held our prices for the three years since we launched — including through the recent winter when many other suppliers increased their rates,” O’Connor said.

“Unfortunately, due to the impact of the Middle East war on wholesale energy prices we can no longer delay this increase.”

Yuno also announced that export rates for solar customers will increase by 8%, saying the move recognises the value of renewable electricity being fed back into the grid.

The supplier currently has around 100,000 household electricity and gas customers.