Airtricity to raise electricity prices 3.5%

Airtricity is to hike electricity prices by 3.5% from Nov 1, adding almost €40 a year to customer bills.

Airtricity said it regretted having to raise its household electricity prices, which will affect 380,000 households, but said it could no longer continue to absorb the rising costs it is facing.

Airtricity said a number of factors, around 85% of which are outside its control, had influenced the hike. These include increases in the cost of using the energy networks to distribute electricity to customers’ homes, along with the increased cost of buying energy in global markets.