Yuno Energy to raise gas and electricity prices for the first time

The supplier said the rise will come into effect on July 1

Yuno, which entered the Irish market in August 2023, blamed the increase on rising wholesale energy costs linked to the war in the Middle East.

Yuno Energy is to raise prices on both electricity and gas, the first time the company has done so since it entered the Irish market three years ago.

The supplier said the price increase would be 9.5% and 11%, respectively, on the estimated annual electricity and gas bills.

They said the rise will come into effect on July 1, and would amount to an increase of €3.24 per week on electricity bills and €3 per week on gas bills based on average usage levels, adding up to €325 on a household's energy bill.

Yuno, which entered the Irish market in August 2023, blamed the increase on rising wholesale energy costs linked to the war in the Middle East.

Their move follows the decision yesterday by Electric Ireland to raise its electricity and gas prices from July 1.

Yuno said it provides energy services to 175,000 homes across Ireland. The company defended the rise, saying it was the first increase by the supplier since it was set, adding that it introduced a price freeze last October for the winter months. 

PrePay Power, which is part of the Yuno Group, raised its prices by 8.8% and 10.6%, which come into effect on June 1.

Margaret O’Connor, managing director of Yuno Energy, said: "We’ve held our prices for the three years since we launched — including through the recent winter when many other suppliers increased their rates. 

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

In a statement, Yuno said that 'export' rates for its solar customers will increase by 8%, recognising the value of their renewable generation to the grid.

Darragh Cassidy, head of communications at Bonkers.ie, said wholesale gas prices have risen by around 40% to 50% in recent weeks following renewed conflict in the Middle East. "This is likely to put upward pressure on gas prices across the wider market," he said.