Households braced for gas and electricity price hikes

By Joe Leogue

Households will incur gas and electricity price rises of up to 12.8% from tomorrow, as companies raise charges in the domestic energy market. Earlier this summer, utilities announced their intention to raise their prices, blaming a surge in wholesale energy costs on global markets. Many of these rises are to take effect on August 1.

Electricity prices will rise by 5.80% to 9.38%, while gas prices are set to go up 4.70% to 12.80%.

Pinergy customers are to see the largest electricity rise of 9.38%, while Flogas has increased its rate more than any other gas supplier, upping its rate by 12.8%.

Electric Ireland, Energia, Flogas, Panda Power and Pinergy will all increase their prices tomorrow, with PrePayPower and Bord Gáis following on August 3 and August 6.

Price comparison website said the increases mean customers can expect to see their energy bills go up by almost €200 a year in some cases.

“Customers should look at switching energy supplier,” Daragh Cassidy, head of communications at said.

Energy suppliers usually save their best rates for brand-new customers which are heavily discounted compared to the standard rates a longer-term customer is charged.

“However, these deals usually expire after 12 months. At this stage, if customers don’t switch, their supplier will revert their plan to standard pricing and they’ll pay more for the exact same service.

“So by switching over to a new deal with a new supplier every year, customers can save over €300 on their energy bills.

“Around 27,000 people switch electricity supplier, and 11,000 switch gas supplier, every month, so I’d encourage anyone to join them,” Mr Cassidy said.

Related Articles

Households face higher energy costs as third supplier confirms price hikes

Pinergy to raise electricity prices for a second time in three months

Ireland among the most expensive countries for gas and electricity in EU

More in this Section

Dashcam led to arrests in ‘sickening’ attempted taxi robbery

Man scaled up apartment block after row with girlfriend, court hears

National Transport Authority wants flat fare across all commuter services

Man assaulted at Monaghan house party dies

Breaking Stories

David Beckham admits marriage is ‘hard work’: Is it normal for long-term relationships to be tough?

On World Menopause Day: 5 myths you really need to stop believing

Photography awards capture life at its wildest

This is how to stay healthy as a new parent – according to The Body Coach

More From The Irish Examiner