Bord Gáis and Pinergy hike electricity prices from October 

Bord Gáis bills will go up by €218 a year on average while Pinergy bills set to rise by €199

Bord Gáis will increase the cost of electricity for its residential customers by an average €18.16 per month from October.

Bord Gáis will increase the cost of electricity for 369,000 residential customers by an average €18.16 per month from October, with rival Pinergy also increasing prices.

Bord Gáis unit rates for electricity will increase by 13.5% while the standing charges will rise by 12%, from October 12. This will mean a 12.1% impact on an average electricity bill which equates to €218 per year or €18.16 a month.

Pinergy also announced an increase to its standard residential electricity prices from October, with a 9.83% increase to the typical household cost which is equivalent to €199 annually in an estimated annual bill domestic bill.

The price rises come in the wake of competitor Energia earlier this week announcing a planned 10.9% price increase.

"This is our first price increase in three years, and in that time we had two price reductions across gas and electricity," said Bord Gáis Energy director of customer and commercial Catherine Lonergan.  “Due to continued increases in network charges, the higher cost of doing business and the impact of wholesale energy market pricing, we’re regrettably announcing a price increase for electricity customers."

Bord Gáis Energy Dual Fuel customers will see a bill increase of 6.6%. Prices for Bord Gáis Energy’s 270,000 gas customers remain unchanged and Bord Gáis Energy said it continues to offer the lowest gas standing charge in the market.

Meanwhile Pinergy said its price change is in response to a rise in external costs including electricity system operator and network charges as well as continuing volatility in wholesale energy costs.

 “Unfortunately, the increase of 34% in electricity network charges over the last two years mean that we will be increasing the costs of electricity to our residential customers next month," said Pinergy chief executive Enda Gunnell. "This is our first increase after three price decreases that we made over 2023 and into 2024. Last year, we absorbed increased network charges approved by the CRU (Commission for Regulation of Utilities)."